Robert W. Baird Increases MongoDB (NASDAQ:MDB) Price Target to $400.00

Key Points

• Robert W. Baird raised MongoDB’s price target from $335 to $400 while maintaining a “neutral” rating; the new target implies roughly 0.67% downside from the stock’s $402.69 price.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $441.75. Recent targets range from $475 to $560, including “outperform” and “buy” ratings from several firms.
• MongoDB exceeded quarterly expectations, reporting $1.32 in EPS versus a $1.19 estimate and $687.62 million in revenue, up 25.2% year over year. However, insiders sold 125,746 shares worth approximately $49.3 million over the past three months.

MongoDB (NASDAQ:MDB - Get Free Report) had its target price raised by equities research analysts at Robert W. Baird from $335.00 to $400.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Robert W. Baird's target price indicates a potential downside of 0.67% from the stock's current price.

A number of other analysts have also issued reports on the stock. BMO Capital Markets raised their target price on shares of MongoDB from $375.00 to $500.00 and gave the stock an "outperform" rating in a research report on Thursday. Weiss Ratings raised MongoDB from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, August 13th. Royal Bank Of Canada increased their price target on MongoDB from $395.00 to $515.00 and gave the stock an "outperform" rating in a research note on Thursday, August 13th. Stifel Nicolaus set a $475.00 price objective on MongoDB in a research report on Tuesday, August 18th. Finally, Guggenheim upped their target price on MongoDB from $475.00 to $560.00 and gave the company a "buy" rating in a research note on Tuesday, August 18th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, MongoDB presently has a consensus rating of "Moderate Buy" and a consensus price target of $441.75.

MongoDB Stock Performance

Shares of NASDAQ:MDB opened at $402.69 on Tuesday. The business's fifty day moving average price is $357.98 and its two-hundred day moving average price is $318.91. The stock has a market cap of $32.39 billion, a PE ratio of -1,088.35, a price-to-earnings-growth ratio of 3,060.54 and a beta of 1.55. MongoDB has a one year low of $212.31 and a one year high of $473.10.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings data 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 return on equity of 1.39% and a negative net margin of 1.12%.The business had revenue of $687.62 million for the quarter, compared to the consensus estimate of $664.53 million. During the same period in the prior year, the business earned $1.00 earnings per share. The business's revenue 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. As a group, equities research analysts predict that MongoDB will post 0.01 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In other news, Director Hope F. Cochran sold 1,000 shares of MongoDB stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $350.00, for a total value of $350,000.00. Following the transaction, the director directly owned 29,326 shares of the company's stock, valued at $10,264,100. The trade was a 3.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Michael J. Berry sold 5,000 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at approximately $534,945. This trade represents a 76.92% decrease in their position. 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. Insiders sold a total of 125,746 shares of company stock valued at $49,310,038 over the last three months. Insiders own 2.60% of the company's stock.

Institutional Trading of MongoDB

Several large investors have recently added to or reduced their stakes in MDB. California State Teachers Retirement System lifted its position in shares of MongoDB by 32,986.4% during the second quarter. California State Teachers Retirement System now owns 39,528,376 shares of the company's stock worth $13,277,581,000 after purchasing an additional 39,408,906 shares in the last quarter. ValueAct Holdings L.P. increased its stake in MongoDB by 206.8% during the 3rd quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company's stock worth $657,447,000 after buying an additional 1,427,700 shares during the period. State Street Corp increased its stake in MongoDB by 2.3% during the 4th quarter. State Street Corp now owns 1,796,847 shares of the company's stock worth $754,119,000 after buying an additional 40,219 shares during the period. Amundi lifted its holdings in MongoDB by 61.3% in the 3rd quarter. Amundi now owns 1,483,396 shares of the company's stock worth $477,550,000 after buying an additional 563,995 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in MongoDB by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,444,384 shares of the company's stock worth $604,429,000 after buying an additional 9,693 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source