MongoDB (NASDAQ:MDB) Trading Up 7.1% After Analyst Upgrade

MongoDB, Inc. (NASDAQ:MDB) shares rose 7.1% during trading on Thursday after Scotiabank upgraded the stock from a sector perform rating to a sector outperform rating. Scotiabank now has a $310.00 price target on the stock, up from their previous price target of $275.00. MongoDB traded as high as $268.77 and last traded at $265.67. Approximately 1,333,115 shares traded hands during trading, a decline of 34% from the average daily volume of 2,006,735 shares. The stock had previously closed at $248.01.

Other analysts have also recently issued reports about the company. Wedbush reduced their target price on MongoDB from $440.00 to $380.00 and set an “outperform” rating on the stock in a report on Tuesday. Oppenheimer lowered their target price on shares of MongoDB from $425.00 to $375.00 and set an “outperform” rating for the company in a research note on Tuesday. DA Davidson cut their price target on shares of MongoDB from $465.00 to $385.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Barclays lowered their price objective on MongoDB from $440.00 to $370.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Guggenheim reissued a “buy” rating and issued a $475.00 price objective on shares of MongoDB in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, MongoDB has a consensus rating of “Moderate Buy” and an average target price of $354.18.

Insider Buying and Selling at MongoDB

In other news, Director Dwight A. Merriman sold 1,190 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $369.75, for a total value of $440,002.50. Following the completion of the sale, the director directly owned 80,462 shares of the company’s stock, valued at $29,750,824.50. This represents a 1.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Thomas Bull sold 555 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $413.86, for a total value of $229,692.30. Following the sale, the chief accounting officer owned 10,784 shares of the company’s stock, valued at $4,463,066.24. This trade represents a 4.89% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 57,354 shares of company stock worth $23,474,994. 3.10% of the stock is owned by company insiders.

Key Headlines Impacting MongoDB

Here are the key news stories impacting MongoDB this week:

• Positive Sentiment: Scotiabank upgraded MDB to “sector outperform” and raised its price target to $310 (from $275), signaling buy-side interest after the recent drop. Scotiabank upgrade (Benzinga)
• Positive Sentiment: Several firms reaffirmed or kept bullish ratings despite cuts to targets — e.g., Citigroup set a $400 target and Rosenblatt reaffirmed a buy — supporting demand from longer?term holders. Citigroup $400 target
• Neutral Sentiment: Unusually heavy options activity: huge spikes in both call (?36,130) and put (?23,831) volume — suggests traders are positioning for big moves or hedging, increasing near?term volatility but ambiguous directional signal.
• Neutral Sentiment: Management and investor outreach: MongoDB presented at the Morgan Stanley TMT conference (management visibility can help clarify guidance and sell?side assumptions). Morgan Stanley presentation transcript (Seeking Alpha)
• Negative Sentiment: FY27 guidance and management shakeup drove the initial selloff: despite Q4 revenue/EPS beats and Atlas growth, management issued muted near?term profit guidance and announced go?to?market leadership changes, which spooked investors and triggered a sharp drop. Guidance miss / stock plunge (Reuters)
• Negative Sentiment: Multiple analysts cut price targets or lowered expectations (UBS, Canaccord, Goldman trimmed targets; Barclays and others issued cautious notes), increasing short?term selling pressure and analyst uncertainty. Analyst target changes summary (AmericanBankingNews)

Institutional Trading of MongoDB

Institutional investors and hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of MongoDB by 1,277.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,219 shares of the company’s stock worth $5,655,000 after buying an additional 16,896 shares during the period. Pacer Advisors Inc. boosted its holdings in MongoDB by 209.0% during the 3rd quarter. Pacer Advisors Inc. now owns 4,549 shares of the company’s stock valued at $1,412,000 after acquiring an additional 3,077 shares during the period. Penserra Capital Management LLC grew its position in MongoDB by 42.1% during the 3rd quarter. Penserra Capital Management LLC now owns 135,036 shares of the company’s stock worth $41,910,000 after acquiring an additional 39,978 shares during the last quarter. Pinegrove Venture Partners LLC purchased a new position in MongoDB in the 3rd quarter worth approximately $1,032,000. Finally, Rakuten Investment Management Inc. bought a new stake in MongoDB in the third quarter valued at approximately $40,014,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Stock Up 6.8%

The stock has a market cap of $21.56 billion, a P/E ratio of -301.05 and a beta of 1.40. The company has a 50-day simple moving average of $375.80 and a two-hundred day simple moving average of $351.28.

MongoDB (NASDAQ:MDB) last issued its earnings results on Monday, March 2nd. The company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.47 by $0.18. The company had revenue of $695.07 million for the quarter, compared to the consensus estimate of $669.40 million. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The firm’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.28 earnings per share. As a group, sell-side analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

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.