MongoDB (NASDAQ:MDB) Earns “Buy” Rating from Needham & Company LLC

MongoDB (NASDAQ:MDB)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a research note issued on Tuesday, Benzinga reports. They currently have a $430.00 target price on the stock. Needham & Company LLC’s target price would suggest a potential upside of 13.20% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. Zacks Research raised MongoDB from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 3rd. Oppenheimer upped their price objective on shares of MongoDB from $410.00 to $475.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Citigroup reaffirmed a “market outperform” rating on shares of MongoDB in a research report on Monday, September 28th. Barclays boosted their target price on shares of MongoDB from $460.00 to $480.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 2nd. Finally, Stephens cut their price target on shares of MongoDB from $398.00 to $372.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 30th. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and an average target price of $462.91.

MongoDB Price Performance

Shares of NASDAQ MDB traded down $1.44 during mid-day trading on Tuesday, hitting $379.85. 1,911,295 shares of the company’s stock traded hands, compared to its average volume of 2,022,018. MongoDB has a 1 year low of $215.68 and a 1 year high of $473.10. The company’s 50-day moving average is $396.26 and its two-hundred day moving average is $338.03. The company has a market capitalization of $30.60 billion, a P/E ratio of 537.58, a PEG ratio of 41.46 and a beta of 1.74.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Tuesday, September 1st. The company reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.28. MongoDB had a return on equity of 1.06% and a net margin of 2.12%. The company had revenue of $771.77 million during the quarter, compared to the consensus estimate of $735.01 million. During the same period last year, the company earned $1.00 earnings per share. MongoDB’s revenue was up 30.5% on a year-over-year basis. MongoDB has set its Q3 2027 guidance at 1.570-1.610 EPS and its FY 2027 guidance at 6.390-6.580 EPS. Equities analysts anticipate that MongoDB will post 0.47 EPS for the current fiscal year.

Insider Transactions at MongoDB

In related news, Director Hope F. Cochran sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $375.92, for a total value of $375,920.00. Following the sale, the director owned 28,326 shares in the company, valued at $10,648,309.92. This represents a 3.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dwight A. Merriman sold 10,000 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $470.59, for a total transaction of $4,705,900.00. Following the completion of the transaction, the director owned 962,953 shares in the company, valued at approximately $453,156,052.27. This trade 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 17,595 shares of company stock worth $8,008,811 over the last three months. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MDB. PensionDanmark Pensionsforsikringsaktieselskab grew its position in MongoDB by 48.7% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 20,810 shares of the company’s stock valued at $6,990,000 after buying an additional 6,819 shares during the period. Assenagon Asset Management S.A. increased its holdings in MongoDB by 19.9% in the second quarter. Assenagon Asset Management S.A. now owns 128,080 shares of the company’s stock valued at $43,022,000 after buying an additional 21,273 shares in the last quarter. National Pension Service raised its position in shares of MongoDB by 10.7% in the second quarter. National Pension Service now owns 153,687 shares of the company’s stock worth $51,623,000 after acquiring an additional 14,866 shares during the period. Daventry Group LP raised its position in shares of MongoDB by 21.3% in the first quarter. Daventry Group LP now owns 82,105 shares of the company’s stock worth $20,097,000 after acquiring an additional 14,412 shares during the period. Finally, SG Americas Securities LLC boosted its stake in shares of MongoDB by 984.2% during the 1st quarter. SG Americas Securities LLC now owns 133,416 shares of the company’s stock worth $32,656,000 after acquiring an additional 121,110 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

About MongoDB

MongoDB, Inc develops and provides a general-purpose, document-oriented database platform. Its technology is designed to help organizations store, manage and analyze structured and unstructured data for applications such as artificial intelligence, analytics, mobile services, e-commerce and enterprise software.

The company’s principal offering is MongoDB Atlas, a fully managed cloud database service available across major cloud infrastructure providers. MongoDB also offers Enterprise Advanced, which provides commercial database software, security, operational controls and support for organizations running databases in their own environments or across hybrid and multicloud infrastructures.