MongoDB's (MDB) "Buy" Rating Reiterated at Needham & Company LLC

Key Points

• Needham & Company reiterated its “Buy” rating on MongoDB and maintained a $430 price target, implying 12.78% upside from the prior close. The broader analyst consensus is “Moderate Buy,” with an average target of $462.91.
• MongoDB exceeded quarterly expectations, reporting $1.90 in EPS versus $1.62 expected and revenue of $771.77 million versus $735.01 million expected. Revenue increased 30.5% year over year.
• MongoDB shares opened at $381.29, compared with a 52-week range of $215.68 to $473.10; institutional investors own approximately 89.29% of the company.

MongoDB (NASDAQ:MDB - Get Free Report)'s stock had its "buy" rating reiterated by research analysts at Needham & Company LLC in a research note issued on Tuesday, Benzinga reports. They presently have a $430.00 target price on the stock. Needham & Company LLC's target price suggests a potential upside of 12.78% from the stock's previous close.

Several other equities research analysts also recently weighed in on MDB. William Blair restated an "outperform" rating on shares of MongoDB in a research note on Monday, September 28th. Stephens reduced their price target on MongoDB from $398.00 to $372.00 and set an "equal weight" rating on the stock in a research report on Wednesday, September 30th. Canaccord Genuity Group increased their price objective on MongoDB from $400.00 to $480.00 and gave the company a "buy" rating in a report on Wednesday, September 2nd. Barclays raised their price objective on MongoDB from $460.00 to $480.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 2nd. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $465.00 price objective on shares of MongoDB in a research report on Wednesday, September 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, MongoDB has a consensus rating of "Moderate Buy" and a consensus price target of $462.91.

MongoDB Stock Performance

Shares of MongoDB stock opened at $381.29 on Tuesday. The company has a market capitalization of $30.72 billion, a PE ratio of 537.03, a P/E/G ratio of 41.46 and a beta of 1.74. The company has a 50-day simple moving average of $396.26 and a two-hundred day simple moving average of $338.03. MongoDB has a one year low of $215.68 and a one year high of $473.10.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings results on Tuesday, September 1st. The company reported $1.90 earnings per share for the quarter, beating analysts' consensus estimates of $1.62 by $0.28. MongoDB had a net margin of 2.12% and a return on equity of 1.06%. The business had revenue of $771.77 million for the quarter, compared to analysts' expectations of $735.01 million. During the same period last year, the business earned $1.00 EPS. The company's 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. On average, equities analysts predict that MongoDB will post 0.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MongoDB news, Director Charles Hazard, Jr. sold 595 shares of the firm'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 completion of the transaction, the director owned 45,237 shares of the company's stock, valued at approximately $16,459,482.45. This trade represents a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dwight Merriman sold 10,000 shares of MongoDB stock in a transaction on Friday, August 14th. The stock was sold at an average price of $470.59, for a total transaction of $4,705,900.00. Following the sale, the director owned 962,953 shares of the company's stock, valued at $453,156,052.27. The trade was a 1.03% 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. Over the last quarter, insiders sold 17,595 shares of company stock valued at $8,008,811. Insiders own 2.60% of the company's stock.

Institutional Trading of MongoDB

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MDB. NorthCrest Asset Manangement LLC grew its stake in MongoDB by 43.1% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 2,902 shares of the company's stock valued at $1,078,000 after purchasing an additional 874 shares during the last quarter. Perpetual Ltd increased its holdings in shares of MongoDB by 52.1% in the third quarter. Perpetual Ltd now owns 4,189 shares of the company's stock valued at $1,460,000 after purchasing an additional 1,435 shares during the period. Riversedge Advisors LLC raised its stake in shares of MongoDB by 45.2% in the third quarter. Riversedge Advisors LLC now owns 886 shares of the company's stock worth $309,000 after purchasing an additional 276 shares during the last quarter. Wedmont Private Capital raised its stake in shares of MongoDB by 78.7% in the third quarter. Wedmont Private Capital now owns 1,908 shares of the company's stock worth $709,000 after purchasing an additional 840 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC raised its stake in shares of MongoDB by 6.0% in the third quarter. Legacy Wealth Asset Management LLC now owns 1,276 shares of the company's stock worth $445,000 after purchasing an additional 72 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

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.