MongoDB (NASDAQ:MDB) Stock Price Expected to Rise, Bank of America Analyst Says

MongoDB (NASDAQ:MDB) had its price target upped by research analysts at Bank of America from $390.00 to $450.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price target would indicate a potential upside of 27.60% from the stock’s previous close.

A number of other equities research analysts have also commented on the company. Monness Crespi & Hardt upped their price target on MongoDB from $370.00 to $415.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Sanford C. Bernstein lowered MongoDB from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 3rd. DA Davidson reiterated a “buy” rating and issued a $375.00 price target on shares of MongoDB in a research report on Friday, May 29th. Wall Street Zen lowered MongoDB from a “buy” rating to a “hold” rating in a research report on Sunday. Finally, Scotiabank reiterated an “outperform” rating on shares of MongoDB in a research report on Friday, May 29th. Twenty-eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $396.39.

MongoDB Price Performance

Shares of MDB stock traded up $1.92 on Monday, hitting $352.66. 1,075,831 shares of the company’s stock were exchanged, compared to its average volume of 2,042,767. The company has a 50 day moving average of $285.37 and a 200 day moving average of $334.31. The stock has a market cap of $28.34 billion, a P/E ratio of -952.79, a price-to-earnings-growth ratio of 1,505.91 and a beta of 1.57. MongoDB has a 12 month low of $196.00 and a 12 month high of $444.72.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Thursday, May 28th. The company reported $1.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.13. The company had revenue of $687.62 million during the quarter, compared to the consensus estimate of $664.53 million. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. The company’s revenue for the quarter was up 25.2% compared to the same quarter last year. During the same period 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. Sell-side analysts predict that MongoDB will post 0.02 EPS for the current fiscal year.

Insider Activity at MongoDB

In related news, Director Roelof Botha sold 44,050 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $398.07, for a total transaction of $17,534,983.50. Following the sale, the director owned 150,550 shares in the company, valued at $59,929,438.50. This represents a 22.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hope F. Cochran sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $350.00, for a total value of $350,000.00. Following the transaction, the director directly owned 27,010 shares in the company, valued at approximately $9,453,500. This trade represents a 3.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 76,616 shares of company stock worth $26,629,774 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of MongoDB

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of MongoDB by 5.0% in the third quarter. Vanguard Group Inc. now owns 8,985,697 shares of the company’s stock worth $2,788,981,000 after purchasing an additional 431,382 shares during the last quarter. ValueAct Holdings L.P. raised its stake in shares of MongoDB by 206.8% in the third quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock worth $657,447,000 after purchasing an additional 1,427,700 shares during the last quarter. State Street Corp raised its stake in shares of MongoDB by 2.3% in the fourth quarter. State Street Corp now owns 1,796,847 shares of the company’s stock worth $754,119,000 after purchasing an additional 40,219 shares during the last quarter. Amundi grew its holdings in shares of MongoDB by 61.3% in the third quarter. Amundi now owns 1,483,396 shares of the company’s stock valued at $477,550,000 after acquiring an additional 563,995 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of MongoDB by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,444,384 shares of the company’s stock valued at $604,429,000 after acquiring an additional 9,693 shares in 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.