MongoDB (NASDAQ:MDB) Price Target Raised to $475.00

MongoDB (NASDAQ:MDB) had its price target raised by equities researchers at Truist Financial from $400.00 to $475.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 12.98% from the company’s current price.

Several other equities analysts also recently weighed in on MDB. DA Davidson reissued a “buy” rating and set a $375.00 target price on shares of MongoDB in a research report on Friday, May 29th. Citigroup reiterated an “outperform” rating on shares of MongoDB in a research report on Wednesday. Rosenblatt Securities reissued a “buy” rating and issued a $385.00 target price on shares of MongoDB in a research note on Tuesday, May 26th. Monness Crespi & Hardt upped their price target on shares of MongoDB from $370.00 to $415.00 and gave the company a “buy” rating in a report on Friday, May 29th. Finally, UBS Group increased their price objective on shares of MongoDB from $275.00 to $350.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $429.90.

MongoDB Price Performance

MDB stock traded down $20.12 during midday trading on Thursday, hitting $420.41. The stock had a trading volume of 457,769 shares, compared to its average volume of 1,871,009. The firm has a market cap of $33.81 billion, a price-to-earnings ratio of -1,136.24, a price-to-earnings-growth ratio of 3,087.46 and a beta of 1.55. MongoDB has a 52-week low of $206.92 and a 52-week high of $473.10. The business has a 50-day moving average of $353.93 and a two-hundred day moving average of $317.75.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Thursday, May 28th. The company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.13. The company had revenue of $687.62 million during the quarter, compared to analysts’ expectations of $664.53 million. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.MongoDB’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.00 earnings per share. MongoDB has set its FY 2027 guidance at 5.950-6.140 EPS and its Q2 2027 guidance at 1.580-1.610 EPS. Research analysts predict that MongoDB will post 0.01 earnings per share for the current year.

Insider Transactions at MongoDB

In other news, Director Dev Ittycheria sold 40,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $383.16, for a total transaction of $15,326,400.00. Following the completion of the sale, the director owned 161,762 shares of the company’s stock, valued at $61,980,727.92. The trade was a 19.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael J. Berry sold 5,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $356.63, for a total transaction of $1,783,150.00. Following the completion of the sale, the chief financial officer owned 1,500 shares of the company’s stock, valued at $534,945. This trade represents a 76.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 125,746 shares of company stock worth $49,310,038 over the last quarter. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Several institutional investors have recently modified their holdings of MDB. Integrated Wealth Concepts LLC increased its stake in MongoDB by 31.6% in the first quarter. Integrated Wealth Concepts LLC now owns 1,363 shares of the company’s stock valued at $239,000 after purchasing an additional 327 shares during the period. NewEdge Advisors LLC lifted its stake in shares of MongoDB by 55.0% in the 1st quarter. NewEdge Advisors LLC now owns 4,238 shares of the company’s stock valued at $743,000 after purchasing an additional 1,504 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in MongoDB during the 2nd quarter worth $329,000. Cresset Asset Management LLC grew its stake in MongoDB by 13.4% in the second quarter. Cresset Asset Management LLC now owns 3,138 shares of the company’s stock worth $659,000 after purchasing an additional 370 shares in the last quarter. Finally, Cerity Partners LLC grew its holdings in shares of MongoDB by 28.3% during the second quarter. Cerity Partners LLC now owns 12,215 shares of the company’s stock valued at $2,565,000 after purchasing an additional 2,697 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

MongoDB Company Profile

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.