MongoDB (NASDAQ:MDB) Price Target Raised to $475.00

MongoDB (NASDAQ:MDB) had its price target increased by Truist Financial from $400.00 to $475.00 in a report published on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

MDB has been the subject of several other research reports. The Goldman Sachs Group restated a “buy” rating and issued a $453.00 price objective on shares of MongoDB in a research note on Wednesday. Citizens Jmp boosted their target price on MongoDB from $366.00 to $519.00 and gave the company a “market outperform” rating in a report on Wednesday. Canaccord Genuity Group raised their price target on MongoDB from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, May 27th. Barclays lifted their price target on MongoDB from $370.00 to $387.00 and gave the stock an “overweight” rating in a research report on Friday, May 29th. Finally, Piper Sandler boosted their price objective on MongoDB from $330.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $436.78.

MongoDB Trading Up 2.5%

MDB stock opened at $430.83 on Thursday. The stock has a market cap of $34.65 billion, a P/E ratio of -1,164.41, a PEG ratio of 3,060.66 and a beta of 1.55. MongoDB has a twelve month low of $208.65 and a twelve month high of $473.10. The company’s 50 day moving average is $357.01 and its two-hundred day moving average is $318.89.

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 net margin of 1.12% and a negative return on equity of 1.39%. The business had revenue of $687.62 million during the quarter, compared to analysts’ expectations of $664.53 million. During the same quarter in the prior year, the business posted $1.00 EPS. The company’s revenue for the quarter 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. On average, equities research analysts predict that MongoDB will post 0.01 earnings per share for the current year.

Insider Buying and Selling at MongoDB

In related news, Director Dwight A. Merriman sold 6,000 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $451.75, for a total transaction of $2,710,500.00. Following the transaction, the director owned 452,896 shares of the company’s stock, valued at $204,595,768. This trade represents a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roelof Botha sold 44,050 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $398.07, for a total value of $17,534,983.50. Following the completion of the transaction, the director owned 150,550 shares in the company, valued at $59,929,438.50. This trade represents a 22.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 125,746 shares of company stock valued at $49,310,038. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Root Financial Partners LLC grew its position in MongoDB by 58.2% in the 4th quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock valued at $37,000 after buying an additional 32 shares during the last quarter. Moody National Bank Trust Division increased its stake in MongoDB by 3.1% in the 2nd quarter. Moody National Bank Trust Division now owns 1,123 shares of the company’s stock valued at $377,000 after buying an additional 34 shares during the period. HighPoint Advisor Group LLC raised its position in MongoDB by 2.5% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,491 shares of the company’s stock worth $626,000 after buying an additional 36 shares during the last quarter. Basecamp Wealth Advisors LLC raised its position in MongoDB by 14.3% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 287 shares of the company’s stock worth $70,000 after buying an additional 36 shares during the last quarter. Finally, Lido Advisors LLC lifted its stake in shares of MongoDB by 3.4% in the 4th quarter. Lido Advisors LLC now owns 1,092 shares of the company’s stock worth $458,000 after acquiring an additional 36 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.