MongoDB (NASDAQ:MDB) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of MongoDB (NASDAQ:MDB) from a hold rating to a buy rating in a report issued on Saturday morning.

A number of other equities research analysts have also issued reports on MDB. Scotiabank reissued an “outperform” rating on shares of MongoDB in a report on Friday, May 29th. Canaccord Genuity Group lifted their target price on shares of MongoDB from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Stifel Nicolaus set a $435.00 target price on shares of MongoDB in a report on Friday, May 29th. Morgan Stanley increased their price target on shares of MongoDB from $335.00 to $380.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Finally, Oppenheimer increased their price target on shares of MongoDB from $375.00 to $410.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $405.35.

MongoDB Stock Performance

NASDAQ MDB opened at $312.33 on Friday. The stock’s fifty day moving average is $336.51 and its two-hundred day moving average is $324.09. The firm has a market capitalization of $25.12 billion, a P/E ratio of -844.14, a price-to-earnings-growth ratio of 1,126.45 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 issued its earnings results 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 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 business earned $1.00 EPS. The firm’s quarterly revenue was up 25.2% on a year-over-year basis. 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, sell-side analysts forecast that MongoDB will post 0.02 EPS for the current year.

Insider Transactions at MongoDB

In other MongoDB news, CFO Michael J. Berry sold 5,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $356.63, for a total transaction of $1,783,150.00. Following the completion of the transaction, the chief financial officer owned 1,500 shares of the company’s stock, valued at $534,945. This trade represents a 76.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope F. Cochran sold 1,000 shares of MongoDB stock in a transaction dated Wednesday, July 1st. The shares were 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 of the company’s stock, valued at approximately $10,264,100. This represents a 3.30% decrease in their ownership of the stock. 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 sold 127,746 shares of company stock worth $47,343,538 in the last 90 days. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Several large investors have recently made changes to their positions in the stock. ValueAct Holdings L.P. grew 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 valued at $657,447,000 after buying an additional 1,427,700 shares in the last quarter. Norges Bank acquired a new position in MongoDB during the 4th quarter worth about $574,821,000. AQR Capital Management LLC lifted its stake in MongoDB by 2,567.2% during the 2nd quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company’s stock worth $233,435,000 after acquiring an additional 1,069,969 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings 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 acquiring an additional 614,559 shares during the period. Finally, Amundi boosted its holdings 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 acquiring an additional 563,995 shares during the period. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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.