MongoDB (NASDAQ:MDB) Stock Picked Up by Analysts at BTIG Research

Key Points

• BTIG Research initiated coverage of MongoDB with a Buy rating and a $417 price target, implying 27.38% upside from the prior close.
• Analyst sentiment is broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $460.59.
• MongoDB beat quarterly estimates, reporting EPS of $1.90 versus $1.62 expected and revenue of $771.77 million, up 30.5% year over year.

Analysts at BTIG Research began coverage on shares of MongoDB (NASDAQ:MDB - Get Free Report) in a report released on Tuesday, Marketbeat Ratings reports. The firm set a "buy" rating and a $417.00 price target on the stock. BTIG Research's price target indicates a potential upside of 27.38% from the stock's previous close.

Several other equities research analysts also recently commented on MDB. Stephens dropped their target price on MongoDB from $398.00 to $372.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 30th. DA Davidson lowered their price objective on shares of MongoDB from $465.00 to $415.00 and set a "buy" rating for the company in a research report on Wednesday, September 30th. Royal Bank Of Canada reiterated an "outperform" rating and set a $465.00 price objective on shares of MongoDB in a research note on Wednesday, September 30th. Guggenheim reiterated a "buy" rating and set a $560.00 price objective on shares of MongoDB in a research note on Tuesday, September 29th. Finally, Evercore reissued an "outperform" rating on shares of MongoDB in a research report on Thursday, September 24th. Two research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $460.59.

MongoDB Trading Up 4.6%

Shares of MongoDB stock opened at $327.37 on Tuesday. The company has a fifty day moving average price of $370.97 and a 200 day moving average price of $336.99. MongoDB has a twelve month low of $215.68 and a twelve month high of $473.10. The stock has a market cap of $26.37 billion, a price-to-earnings ratio of 461.08, a price-to-earnings-growth ratio of 29.90 and a beta of 1.74.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings data on Tuesday, September 1st. The company reported $1.90 EPS for the quarter, beating the consensus estimate of $1.62 by $0.28. The company had revenue of $771.77 million for the quarter, compared to analyst estimates of $735.01 million. MongoDB had a return on equity of 1.06% and a net margin of 2.12%. The firm's revenue was up 30.5% compared to the same quarter last year. During the same period last year, the company posted $1.00 earnings per share. MongoDB has set its Q3 2027 guidance at 1.570-1.610 EPS and its FY 2027 guidance at 6.390-6.580 EPS. Analysts forecast that MongoDB will post 0.50 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Charles Hazard, Jr. sold 595 shares of the stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $350.46, for a total value of $208,523.70. Following the completion of the transaction, the director owned 44,642 shares of the company's stock, valued at approximately $15,645,235.32. This represents a 1.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dwight Merriman sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $348.92, for a total value of $3,489,200.00. Following the sale, the director owned 942,953 shares of the company's stock, valued at approximately $329,015,160.76. This trade represents a 1.05% 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 three months, insiders sold 52,465 shares of company stock worth $20,382,936. Company insiders own 2.60% of the company's stock.

Institutional Trading of MongoDB

Several institutional investors have recently added to or reduced their stakes in the stock. Cassaday & Co Wealth Management LLC acquired a new stake in shares of MongoDB in the 1st quarter valued at about $34,000. Smallwood Wealth Investment Management LLC acquired a new position in MongoDB in the second quarter worth about $34,000. NBH Bank bought a new stake in MongoDB in the second quarter valued at about $34,000. CX Institutional increased its holdings in MongoDB by 94.3% in the second quarter. CX Institutional now owns 103 shares of the company's stock valued at $35,000 after buying an additional 50 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in MongoDB by 44.9% in the third quarter. Bessemer Group Inc. now owns 100 shares of the company's stock valued at $35,000 after buying an additional 31 shares during the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

MongoDB Company Profile

MongoDB, Inc develops database software and related services for businesses and developers. Its core product, MongoDB, is a document database designed to store and manage data in a flexible format for applications across a range of industries and use cases.

The company offers MongoDB Atlas, a managed cloud database service available across major cloud platforms, as well as software that customers can deploy in their own environments. MongoDB also provides tools and services for application development, database management, security, and data operations.

Founded in 2007 as 10gen, the company introduced its database software under the MongoDB name and later adopted that name as its corporate identity.

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