MongoDB (NASDAQ:MDB) Shares Climb 6.1% – Still a Buy?

MongoDB, Inc. (NASDAQ:MDB) shot up 6.1% during trading on Tuesday. The company traded as high as $411.21 and last traded at $404.6130. Approximately 347,523 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 2,013,607 shares. The stock had previously closed at $381.29.

Analysts Set New Price Targets

A number of equities analysts have issued reports on MDB shares. Citigroup restated a “market outperform” rating on shares of MongoDB in a report on Monday, September 28th. William Blair restated an “outperform” rating on shares of MongoDB in a research report on Monday, September 28th. Robert W. Baird upped their price target on MongoDB from $335.00 to $400.00 and gave the company a “neutral” rating in a research note on Tuesday, August 25th. Citizens Jmp reaffirmed a “market outperform” rating and issued a $519.00 price target on shares of MongoDB in a research note on Wednesday, September 30th. Finally, Rosenblatt Securities increased their price target on shares of MongoDB from $395.00 to $445.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, MongoDB presently has a consensus rating of “Moderate Buy” and an average target price of $462.91.

MongoDB Price Performance

The stock’s 50 day simple moving average is $396.26 and its two-hundred day simple moving average is $338.03. The stock has a market cap of $31.65 billion, a P/E ratio of 554.37, a price-to-earnings-growth ratio of 41.46 and a beta of 1.74.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Tuesday, September 1st. The company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.28. MongoDB had a net margin of 2.12% and a return on equity of 1.06%. The company had revenue of $771.77 million during the quarter, compared to analysts’ expectations of $735.01 million. During the same quarter in the prior year, the company earned $1.00 earnings per share. The business’s quarterly revenue was up 30.5% compared to the same quarter last year. MongoDB has set its Q3 2027 guidance at 1.570-1.610 EPS and its FY 2027 guidance at 6.390-6.580 EPS. As a group, analysts forecast that MongoDB, Inc. will post 0.47 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In related news, Director Charles Hazard, Jr. sold 595 shares of the business’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $363.85, for a total value of $216,490.75. Following the sale, the director directly owned 45,237 shares of the company’s stock, valued at approximately $16,459,482.45. The trade was a 1.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dwight Merriman sold 6,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the director directly owned 452,896 shares of the company’s stock, valued at approximately $204,595,768. The trade was a 1.31% decrease in their ownership of the stock. 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. In the last ninety days, insiders have sold 17,595 shares of company stock valued at $8,008,811. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of MongoDB

A number of institutional investors have recently modified their holdings of MDB. Fred Alger Management LLC grew its holdings in shares of MongoDB by 7.3% during the fourth quarter. Fred Alger Management LLC now owns 561,614 shares of the company’s stock worth $235,704,000 after buying an additional 38,225 shares in the last quarter. Bank of America Corp DE raised its position in MongoDB by 0.3% in the 1st quarter. Bank of America Corp DE now owns 555,305 shares of the company’s stock valued at $135,922,000 after buying an additional 1,852 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its position in MongoDB by 55.0% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 549,970 shares of the company’s stock valued at $134,616,000 after buying an additional 195,250 shares during the last quarter. Employees Provident Fund Board bought a new stake in MongoDB in the 4th quarter valued at approximately $203,365,000. Finally, Polar Capital Holdings Plc lifted its stake in MongoDB by 730.6% in the 4th quarter. Polar Capital Holdings Plc now owns 431,207 shares of the company’s stock valued at $180,973,000 after acquiring an additional 379,289 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

About MongoDB

MongoDB, Inc develops and provides a general-purpose, document-oriented database platform. Its technology is designed to help organizations store, manage and analyze structured and unstructured data for applications such as artificial intelligence, analytics, mobile services, e-commerce and enterprise software.

The company’s principal offering is MongoDB Atlas, a fully managed cloud database service available across major cloud infrastructure providers. MongoDB also offers Enterprise Advanced, which provides commercial database software, security, operational controls and support for organizations running databases in their own environments or across hybrid and multicloud infrastructures.