MongoDB (NASDAQ:MDB) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

MongoDB (NASDAQ:MDB) had its target price hoisted by stock analysts at Needham & Company LLC from $400.00 to $430.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price points to a potential upside of 18.50% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. BMO Capital Markets raised their target price on shares of MongoDB from $360.00 to $375.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Citigroup reiterated a “buy” rating on shares of MongoDB in a research note on Monday, June 8th. Morgan Stanley increased their target price on MongoDB from $335.00 to $380.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. KGI Securities began coverage on MongoDB in a report on Wednesday. They set an “outperform” rating and a $470.00 price target on the stock. Finally, UBS Group lifted their price objective on shares of MongoDB from $275.00 to $350.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Twenty-eight research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $400.41.

MongoDB Stock Up 1.0%

NASDAQ MDB opened at $362.87 on Friday. The business has a fifty day moving average of $329.22 and a 200-day moving average of $327.67. The stock has a market cap of $29.19 billion, a price-to-earnings ratio of -980.73, a price-to-earnings-growth ratio of 1,296.20 and a beta of 1.55. MongoDB has a fifty-two week low of $198.47 and a fifty-two week high of $444.72.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Thursday, May 28th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.13. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. The business had revenue of $687.62 million for the quarter, compared to the consensus estimate of $664.53 million. During the same quarter in the prior year, the firm posted $1.00 earnings per share. The company’s quarterly revenue was up 25.2% compared to the same quarter last year. MongoDB has set its FY 2027 guidance at 5.950-6.140 EPS and its Q2 2027 guidance at 1.580-1.610 EPS. As a group, analysts anticipate that MongoDB will post 0.02 EPS for the current year.

Insider Activity

In other MongoDB news, Director Dwight A. Merriman sold 10,000 shares of MongoDB stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $353.91, for a total transaction of $3,539,100.00. Following the transaction, the director directly owned 983,316 shares in the company, valued at approximately $348,005,365.56. The trade was a 1.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael J. Berry sold 5,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $356.63, for a total value of $1,783,150.00. Following the completion of the sale, the chief financial officer directly owned 1,500 shares of the company’s stock, valued at approximately $534,945. This trade represents a 76.92% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 139,746 shares of company stock worth $50,247,978. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of MDB. ValueAct Holdings L.P. grew its stake in shares of MongoDB by 206.8% in the 3rd quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock valued at $657,447,000 after buying an additional 1,427,700 shares in the last quarter. State Street Corp grew its holdings in MongoDB by 2.3% in the 4th quarter. State Street Corp now owns 1,796,847 shares of the company’s stock valued at $754,119,000 after buying an additional 40,219 shares during the last quarter. Amundi raised its stake in MongoDB by 61.3% during the 3rd quarter. Amundi now owns 1,483,396 shares of the company’s stock valued at $477,550,000 after purchasing an additional 563,995 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 buying an additional 9,693 shares during the period. Finally, Jericho Capital Asset Management L.P. grew its holdings in shares of MongoDB by 162.1% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 1,378,540 shares of the company’s stock worth $427,871,000 after purchasing an additional 852,540 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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.