MongoDB (NASDAQ:MDB) Price Target Raised to $519.00

MongoDB (NASDAQ:MDB) had its target price hoisted by Citizens Jmp from $366.00 to $519.00 in a report issued on Wednesday,Benzinga reports. Citizens Jmp currently has a market outperform rating on the stock.

A number of other research analysts have also recently commented on the company. KGI Securities began coverage on MongoDB in a research note on Wednesday, July 8th. They set an “outperform” rating and a $470.00 price objective on the stock. Citigroup reiterated an “outperform” rating on shares of MongoDB in a research note on Wednesday. Wall Street Zen lowered MongoDB from a “buy” rating to a “hold” rating in a research note on Sunday, July 26th. Bank of America raised their target price on MongoDB from $390.00 to $450.00 and gave the company a “buy” rating in a report on Monday, June 8th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $385.00 price target on shares of MongoDB in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $436.78.

MongoDB Stock Up 2.5%

Shares of MDB stock opened at $430.83 on Wednesday. MongoDB has a fifty-two week low of $208.65 and a fifty-two week high of $473.10. The firm’s 50 day moving average price is $357.01 and its two-hundred day moving average price is $318.89. The stock has a market cap of $34.65 billion, a price-to-earnings ratio of -1,164.41, a price-to-earnings-growth ratio of 2,986.24 and a beta of 1.55.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data 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 in the prior year, the business earned $1.00 earnings per share. The business’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. On average, equities analysts forecast that MongoDB will post 0.01 EPS for the current fiscal year.

Insider Activity at MongoDB

In other 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 transaction of $15,326,400.00. Following the completion of the sale, the director directly owned 161,762 shares in the company, valued at $61,980,727.92. This trade represents a 19.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael J. Berry sold 5,000 shares of MongoDB stock in a transaction dated 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 sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 125,746 shares of company stock valued at $49,310,038. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MongoDB

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Harel Insurance Investments & Financial Services Ltd. grew its holdings in MongoDB by 115.1% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 354,720 shares of the company’s stock worth $148,872,000 after acquiring an additional 189,820 shares in the last quarter. Fiera Capital Corp raised its stake in shares of MongoDB by 33.6% in the 4th quarter. Fiera Capital Corp now owns 183,035 shares of the company’s stock valued at $76,818,000 after purchasing an additional 46,051 shares in the last quarter. M&T Bank Corp raised its stake in shares of MongoDB by 12,467.7% in the 4th quarter. M&T Bank Corp now owns 323,744 shares of the company’s stock valued at $135,872,000 after purchasing an additional 321,168 shares in the last quarter. Virtus Wealth Solutions LLC lifted its position in shares of MongoDB by 288.3% during the fourth quarter. Virtus Wealth Solutions LLC now owns 6,854 shares of the company’s stock worth $2,877,000 after purchasing an additional 5,089 shares during the last quarter. Finally, Danica Pension Livsforsikringsaktieselskab bought a new position in shares of MongoDB during the fourth quarter worth about $107,100,000. 89.29% of the stock is currently 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.