Truist Financial Forecasts Strong Price Appreciation for MongoDB (NASDAQ:MDB) Stock

MongoDB (NASDAQ:MDB) had its price objective lifted by investment analysts at Truist Financial from $375.00 to $400.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 16.93% from the company’s previous close.

Other analysts have also issued reports about the company. Zacks Research upgraded MongoDB from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Canaccord Genuity Group lifted their price objective on MongoDB from $375.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Mizuho boosted their price objective on MongoDB from $325.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. Robert W. Baird increased their target price on shares of MongoDB from $260.00 to $335.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 20th. Finally, Cantor Fitzgerald raised their price objective on shares of MongoDB from $378.00 to $416.00 and gave the stock an “overweight” rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $400.41.

MongoDB Stock Performance

NASDAQ MDB opened at $342.08 on Thursday. The company has a market capitalization of $27.51 billion, a PE ratio of -924.54, a price-to-earnings-growth ratio of 1,308.71 and a beta of 1.55. MongoDB has a 52-week low of $198.47 and a 52-week high of $444.72. The company has a 50-day simple moving average of $330.89 and a 200 day simple moving average of $327.77.

MongoDB (NASDAQ:MDB) last issued 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. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. The company had revenue of $687.62 million during the quarter, compared to analyst estimates of $664.53 million. During the same quarter last year, the business posted $1.00 EPS. MongoDB’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 forecast that MongoDB will post 0.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other MongoDB news, Director Dev Ittycheria sold 40,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $383.16, for a total value of $15,326,400.00. Following the sale, the director owned 161,762 shares of the company’s stock, valued at $61,980,727.92. This trade represents a 19.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dwight A. Merriman sold 10,000 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $353.91, for a total value of $3,539,100.00. Following the transaction, the director directly owned 983,316 shares of the company’s stock, valued at $348,005,365.56. The trade was a 1.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 139,746 shares of company stock valued at $50,247,978 over the last 90 days. 2.60% of the stock is owned by insiders.

Institutional Trading of MongoDB

Hedge funds and other institutional investors have recently bought and sold shares of the company. Kinetic Partners Management LP grew its holdings in MongoDB by 27.2% in the 3rd quarter. Kinetic Partners Management LP now owns 195,769 shares of the company’s stock worth $60,763,000 after acquiring an additional 41,810 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of MongoDB by 115.1% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 354,720 shares of the company’s stock valued at $148,872,000 after acquiring an additional 189,820 shares during the last quarter. Jericho Capital Asset Management L.P. boosted its holdings in shares of MongoDB by 162.1% during the third 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 during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of MongoDB by 69.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 345,563 shares of the company’s stock worth $145,029,000 after purchasing an additional 141,755 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in MongoDB by 611.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 715,100 shares of the company’s stock valued at $300,120,000 after purchasing an additional 614,559 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Key MongoDB News

Here are the key news stories impacting MongoDB this week:

• Positive Sentiment: KGI Securities upgraded MongoDB to strong-buy, adding to recent upbeat analyst sentiment around the stock. Zacks.com
• Positive Sentiment: Needham raised its price target on MongoDB to $430 from $400 and reiterated a buy rating, implying meaningful upside from current levels.
• Positive Sentiment: Truist also lifted its price target to $400 and kept a buy rating, reinforcing confidence in MongoDB’s growth outlook.
• Neutral Sentiment: MongoDB shareholders approved governance changes at the annual meeting, a routine corporate development that may be viewed as a long-term governance improvement. Article
• Neutral Sentiment: Citi highlighted AI beneficiaries ahead of software earnings, with MongoDB potentially benefiting from continued enterprise AI spending, though the note was broader industry commentary rather than a direct company-specific update. Article
• Negative Sentiment: Despite the favorable analyst action, MongoDB stock has been under pressure in recent trading, suggesting investors are taking profits or rotating out of the name even after positive fundamental and rating news. Article

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.