DA Davidson Increases MongoDB (NASDAQ:MDB) Price Target to $465.00

Key Points

• DA Davidson raised MongoDB’s price target to $465 from $375 and maintained a “buy” rating, implying approximately 15% upside from the reported $404.53 share price.
• Analyst sentiment remains broadly positive: MongoDB has a consensus “Moderate Buy” rating and an average price target of $449.97, with several firms setting targets between $460 and $500.
• MongoDB exceeded quarterly expectations, reporting $1.32 in EPS and $687.62 million in revenue, up 25.2% year over year. However, insiders sold more than $49.3 million of stock over the past 90 days.

MongoDB (NASDAQ:MDB - Get Free Report) had its target price boosted by DA Davidson from $375.00 to $465.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the stock. DA Davidson's price target points to a potential upside of 14.95% from the company's current price.

MDB has been the subject of several other research reports. UBS Group raised their target price on shares of MongoDB from $350.00 to $460.00 and gave the stock a "neutral" rating in a research note on Monday. Truist Financial boosted their price target on shares of MongoDB from $400.00 to $475.00 and gave the stock a "buy" rating in a research note on Thursday, August 20th. Stifel Nicolaus set a $475.00 price target on shares of MongoDB in a report on Tuesday, August 18th. Cantor Fitzgerald increased their price target on shares of MongoDB from $378.00 to $416.00 and gave the stock an "overweight" rating in a report on Tuesday, May 26th. Finally, BMO Capital Markets lifted their price objective on MongoDB from $375.00 to $500.00 and gave the company an "outperform" rating in a report on Thursday, August 20th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $449.97.

MongoDB Price Performance

Shares of MDB stock traded down $0.39 during midday trading on Wednesday, hitting $404.53. The company had a trading volume of 198,863 shares, compared to its average volume of 1,851,572. The stock has a market cap of $32.54 billion, a price-to-earnings ratio of -1,091.87, a PEG ratio of 2,860.64 and a beta of 1.55. The company's 50 day simple moving average is $359.10 and its 200 day simple moving average is $319.38. MongoDB has a 52-week low of $215.68 and a 52-week high of $473.10.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings results on Thursday, May 28th. The company reported $1.32 EPS for the quarter, topping 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 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 earned $1.00 earnings per share. The company'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. Analysts anticipate that MongoDB will post 0.01 EPS for the current year.

Insider Buying and Selling at MongoDB

In related news, Director Dev Ittycheria sold 40,000 shares of the firm's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $383.16, for a total value of $15,326,400.00. Following the completion of the sale, the director 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael J. Berry sold 5,000 shares of the business's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $356.63, for a total transaction 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. This represents a 76.92% decrease in their position. 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 90 days, insiders sold 125,746 shares of company stock worth $49,310,038. Company insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On MongoDB

Several institutional investors have recently modified their holdings of the company. Cornerstone Planning Group LLC raised its holdings in MongoDB by 1,220.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company's stock worth $27,000 after purchasing an additional 61 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in MongoDB in the fourth quarter valued at $33,000. Cassaday & Co Wealth Management LLC acquired a new stake in MongoDB in the first quarter valued at $34,000. Smallwood Wealth Investment Management LLC purchased a new position in shares of MongoDB in the second quarter valued at $34,000. Finally, NBH Bank acquired a new position in shares of MongoDB during the 2nd quarter worth $34,000. Hedge funds and other institutional investors own 89.29% of the company's stock.

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.

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