MongoDB (NASDAQ:MDB) Reaches New 12-Month High Following Analyst Upgrade

Shares of MongoDB, Inc. (NASDAQ:MDB) reached a new 52-week high during trading on Thursday after Royal Bank Of Canada raised their price target on the stock from $395.00 to $515.00. Royal Bank Of Canada currently has an outperform rating on the stock. MongoDB traded as high as $458.00 and last traded at $458.0150, with a volume of 208698 shares traded. The stock had previously closed at $437.83.

A number of other research firms have also recently issued reports on MDB. Mizuho raised their target price on shares of MongoDB from $325.00 to $400.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Truist Financial raised their price objective on shares of MongoDB from $375.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. BMO Capital Markets upped their target price on MongoDB from $360.00 to $375.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. Barclays lifted their price target on MongoDB from $370.00 to $387.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $385.00 price objective on shares of MongoDB in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, MongoDB has an average rating of “Moderate Buy” and an average target price of $414.23.

Insider Buying and Selling at MongoDB

In other news, CFO Michael J. Berry sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $356.63, for a total value of $1,783,150.00. Following the completion of the transaction, the chief financial officer directly owned 1,500 shares in the company, valued at approximately $534,945. The trade was a 76.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope F. Cochran sold 1,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $350.00, for a total transaction of $350,000.00. Following the sale, the director owned 29,326 shares in the company, valued at $10,264,100. This represents a 3.30% 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. Insiders have sold a total of 115,746 shares of company stock valued at $43,783,518 over the last three months. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On MongoDB

A number of institutional investors have recently modified their holdings of MDB. ValueAct Holdings L.P. grew its position in MongoDB by 206.8% in the third quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock valued at $657,447,000 after acquiring an additional 1,427,700 shares during the last quarter. State Street Corp grew its holdings in shares of MongoDB by 2.3% during the 4th quarter. State Street Corp now owns 1,796,847 shares of the company’s stock valued at $754,119,000 after purchasing an additional 40,219 shares during the last quarter. Amundi increased its position in MongoDB by 61.3% during the 3rd quarter. Amundi now owns 1,483,396 shares of the company’s stock worth $477,550,000 after purchasing an additional 563,995 shares in the last quarter. Geode Capital Management LLC boosted its position in 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 in the last quarter. Finally, Norges Bank acquired a new stake in MongoDB in the fourth quarter valued at approximately $574,821,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Stock Up 5.1%

The business’s 50 day simple moving average is $344.44 and its two-hundred day simple moving average is $316.06. The stock has a market cap of $37.01 billion, a P/E ratio of -1,247.12, a PEG ratio of 1,799.84 and a beta of 1.55.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Thursday, May 28th. The company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $687.62 million during the quarter, compared to analysts’ expectations of $664.53 million. During the same period in the prior year, the company earned $1.00 EPS. MongoDB’s 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, research analysts forecast that MongoDB, Inc. will post 0.02 earnings per share for the current fiscal year.

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.