MongoDB (NASDAQ:MDB) Price Target Raised to $400.00

MongoDB (NASDAQ:MDB) had its price target raised by Robert W. Baird from $335.00 to $400.00 in a research report released on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

Several other research analysts have also recently issued reports on the company. Wall Street Zen cut MongoDB from a “buy” rating to a “hold” rating in a research report on Sunday, July 26th. Bank of America raised their target price on MongoDB from $390.00 to $450.00 and gave the company a “buy” rating in a report on Monday, June 8th. Guggenheim upped their price target on shares of MongoDB from $475.00 to $560.00 and gave the stock a “buy” rating in a research note on Tuesday, August 18th. Cantor Fitzgerald increased their price target on shares of MongoDB from $378.00 to $416.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Finally, Oppenheimer increased their price target on shares of MongoDB from $410.00 to $475.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, MongoDB has an average rating of “Moderate Buy” and a consensus price target of $453.19.

MongoDB Trading Up 8.5%

Shares of MDB stock opened at $440.58 on Tuesday. The company has a market cap of $35.44 billion, a price-to-earnings ratio of -1,190.76, a price-to-earnings-growth ratio of 2,884.93 and a beta of 1.55. The stock has a 50 day simple moving average of $362.68 and a 200-day simple moving average of $320.62. MongoDB has a 12-month low of $215.68 and a 12-month high of $473.10.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Thursday, May 28th. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.19 by $0.13. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.The business had revenue of $687.62 million during the quarter, compared to analysts’ expectations of $664.53 million. During the same period last year, the firm earned $1.00 EPS. The company’s quarterly revenue was up 25.2% compared to the same quarter last year. On average, equities analysts forecast that MongoDB will post 0.01 earnings per share for the current fiscal year.

Insider Activity

In other MongoDB news, Director Hope F. Cochran sold 1,566 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $344.05, for a total value of $538,782.30. Following the sale, the director owned 25,444 shares of the company’s stock, valued at approximately $8,754,008.20. This represents a 5.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dwight A. Merriman sold 10,000 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $470.59, for a total value of $4,705,900.00. Following the completion of the transaction, the director owned 962,953 shares of the company’s stock, valued at approximately $453,156,052.27. This represents a 1.03% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 124,746 shares of company stock valued at $48,960,038 in the last 90 days. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in MDB. Cornerstone Planning Group LLC grew its stake in MongoDB by 1,220.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock valued at $27,000 after acquiring an additional 61 shares during the last quarter. International Assets Investment Management LLC acquired a new position in MongoDB during the fourth quarter worth about $33,000. Root Financial Partners LLC raised its position in MongoDB by 58.2% during the fourth quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock worth $37,000 after acquiring an additional 32 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in shares of MongoDB in the second quarter valued at about $34,000. Finally, NBH Bank purchased a new stake in shares of MongoDB in the second quarter valued at about $34,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

More MongoDB News

Here are the key news stories impacting MongoDB this week:

• Positive Sentiment: Hedgeye named MongoDB a new top long idea, signaling strong conviction that the company’s growth outlook and current market positioning could support further gains. MongoDB gains as it’s added as new top long idea at Hedgeye
• Positive Sentiment: DA Davidson raised its price target to $465 from $375 and maintained a Buy rating. The new target implies additional upside and reinforces the view that MongoDB’s recent rally may be supported by improving fundamentals and AI-related demand. DA Davidson raises MongoDB price target
• Positive Sentiment: MongoDB introduced new AI capabilities for Atlas, including native connectors for major AI developer tools and direct access to Voyage AI retrieval and embedding models. Automated embeddings could reduce the complexity and cost of enterprise AI deployments, making Atlas more attractive for AI application development. MongoDB puts new AI tools inside Atlas for enterprise developers
• Positive Sentiment: Robert W. Baird also expects MongoDB’s stock to rise, adding to the favorable analyst sentiment surrounding the company ahead of earnings. MongoDB stock price expected to rise, Robert W. Baird analyst says
• Neutral Sentiment: Investors are focused on the September 1 quarterly report. Preview coverage is directing attention to revenue, Atlas growth and other operating metrics beyond headline EPS and sales estimates. MongoDB Q2 earnings estimates
• Negative Sentiment: Some coverage highlights elevated expectations and unresolved risks, including a key leadership vacancy, the stock’s sharp recent advance and disagreement among analysts. A disappointing earnings outlook or signs of slowing Atlas momentum could therefore trigger volatility. Is MongoDB the best AI database play before earnings?

About MongoDB

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.