Needham & Company LLC Reaffirms “Buy” Rating for MongoDB (NASDAQ:MDB)

MongoDB (NASDAQ:MDB)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a research note issued on Tuesday,Benzinga reports. They currently have a $500.00 target price on the stock. Needham & Company LLC’s price objective indicates a potential upside of 25.08% from the company’s current price.

Other research analysts also recently issued reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of MongoDB in a research note on Monday, December 29th. Truist Financial boosted their price target on shares of MongoDB from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Sanford C. Bernstein raised their price objective on MongoDB from $338.00 to $452.00 and gave the company an “outperform” rating in a research report on Tuesday, December 2nd. Wedbush boosted their target price on MongoDB from $400.00 to $440.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 2nd. Finally, Guggenheim increased their price target on MongoDB from $400.00 to $450.00 and gave the company a “buy” rating in a research note on Tuesday, December 2nd. Two analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and an average price target of $420.26.

MongoDB Price Performance

Shares of NASDAQ MDB opened at $399.76 on Tuesday. The stock has a market cap of $32.54 billion, a PE ratio of -459.49 and a beta of 1.38. MongoDB has a 1 year low of $140.78 and a 1 year high of $444.72. The firm has a fifty day moving average price of $393.83 and a 200-day moving average price of $322.16.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Monday, December 1st. The company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.53. The business had revenue of $628.31 million during the quarter, compared to analyst estimates of $592.98 million. MongoDB had a negative return on equity of 1.12% and a negative net margin of 3.06%.MongoDB’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.16 EPS. MongoDB has set its Q4 2026 guidance at 1.440-1.480 EPS and its FY 2026 guidance at 4.760-4.800 EPS. On average, research analysts expect that MongoDB will post -1.78 EPS for the current year.

Insider Buying and Selling

In other MongoDB news, Director Dwight A. Merriman sold 1,139 shares of the business’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $388.31, for a total transaction of $442,285.09. Following the transaction, the director owned 81,652 shares in the company, valued at $31,706,288.12. The trade was a 1.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Thomas Bull sold 555 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $413.86, for a total transaction of $229,692.30. Following the completion of the sale, the chief accounting officer directly owned 10,784 shares in the company, valued at approximately $4,463,066.24. This represents a 4.89% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 82,162 shares of company stock worth $32,384,092. 3.10% of the stock is currently owned by corporate insiders.

Institutional Trading of MongoDB

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clark Financial Services Group Inc. BD boosted its position in shares of MongoDB by 1.5% during the fourth quarter. Clark Financial Services Group Inc. BD now owns 1,669 shares of the company’s stock valued at $702,000 after buying an additional 25 shares during the period. True Wealth Design LLC lifted its stake in shares of MongoDB by 9.4% during the 4th quarter. True Wealth Design LLC now owns 419 shares of the company’s stock worth $176,000 after acquiring an additional 36 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of MongoDB by 3.8% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,101 shares of the company’s stock worth $342,000 after acquiring an additional 40 shares during the last quarter. Grove Bank & Trust boosted its holdings in MongoDB by 81.8% during the 4th quarter. Grove Bank & Trust now owns 100 shares of the company’s stock valued at $42,000 after acquiring an additional 45 shares during the period. Finally, Exchange Traded Concepts LLC grew its position in MongoDB by 0.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 14,349 shares of the company’s stock valued at $6,022,000 after acquiring an additional 47 shares during 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.