Canaccord Genuity Group Forecasts Strong Price Appreciation for MongoDB (NASDAQ:MDB) Stock

Key Points

• Canaccord Genuity Group raised its price target on MongoDB to $400 from $375 and kept a buy rating, implying about 34% upside from the stock’s current level.
• Other analysts remain largely bullish, with several firms raising targets and the Street carrying a Moderate Buy consensus; the average target price now sits at $374.13.
• MongoDB’s stock was down 3.1% to $297.87, even as its latest earnings beat expectations on both EPS and revenue, and investor attention is turning to upcoming results and guidance.

MongoDB (NASDAQ:MDB - Get Free Report) had its target price increased by equities research analysts at Canaccord Genuity Group from $375.00 to $400.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Canaccord Genuity Group's price objective would suggest a potential upside of 34.29% from the company's current price.

A number of other brokerages have also commented on MDB. Royal Bank Of Canada reissued an "outperform" rating and set a $395.00 price objective on shares of MongoDB in a report on Tuesday, May 19th. Cantor Fitzgerald boosted their price objective on shares of MongoDB from $378.00 to $416.00 and gave the stock an "overweight" rating in a research report on Tuesday. Barclays decreased their price objective on MongoDB from $440.00 to $370.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 3rd. Wells Fargo & Company dropped their target price on MongoDB from $450.00 to $375.00 and set an "overweight" rating for the company in a research report on Tuesday, March 3rd. Finally, Zacks Research upgraded MongoDB from a "strong sell" rating to a "hold" rating in a report on Friday, May 15th. Twenty-six research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $374.13.

MongoDB Stock Down 3.1%

MDB traded down $9.48 during trading on Wednesday, hitting $297.87. The company's stock had a trading volume of 900,098 shares, compared to its average volume of 1,821,051. The firm's 50 day moving average price is $270.48 and its two-hundred day moving average price is $334.41. MongoDB has a 12 month low of $182.43 and a 12 month high of $444.72. The stock has a market capitalization of $23.94 billion, a price-to-earnings ratio of -338.15 and a beta of 1.48.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its earnings results on Monday, March 2nd. The company reported $1.65 EPS for the quarter, topping the consensus estimate of $1.47 by $0.18. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The company had revenue of $695.07 million for the quarter, compared to analysts' expectations of $669.40 million. During the same quarter in the prior year, the business earned $1.28 earnings per share. The business's revenue for the quarter was up 26.8% on a year-over-year basis. On average, sell-side analysts forecast that MongoDB will post -0.46 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Dwight A. Merriman sold 10,000 shares of the business's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $297.99, for a total value of $2,979,900.00. Following the completion of the transaction, the director owned 993,316 shares of the company's stock, valued at $295,998,234.84. The trade was a 1.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope F. Cochran sold 1,566 shares of the firm's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $249.33, for a total value of $390,450.78. Following the sale, the director directly owned 24,093 shares in the company, valued at $6,007,107.69. The trade was a 6.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 31,566 shares of company stock worth $8,744,791. Insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Central Pacific Bank Trust Division acquired a new position in MongoDB in the 4th quarter worth $28,000. Cornerstone Planning Group LLC grew its holdings in shares of 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 buying an additional 61 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in MongoDB in the 4th quarter valued at approximately $33,000. Root Financial Partners LLC lifted its stake in MongoDB by 58.2% in the 4th quarter. Root Financial Partners LLC now owns 87 shares of the company's stock valued at $37,000 after acquiring an additional 32 shares in the last quarter. Finally, Global Trust Asset Management LLC acquired a new position in MongoDB during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 89.29% of the company's stock.

Key Headlines Impacting MongoDB

Here are the key news stories impacting MongoDB this week:

• Positive Sentiment: Cantor Fitzgerald raised its price target on MongoDB to $416 from $378 and reiterated an overweight rating, signaling confidence in upside ahead of earnings. Article: MongoDB PT Raised to $416 at Cantor Fitzgerald
• Positive Sentiment: Rosenblatt reaffirmed a buy rating and set a $385 target, also implying meaningful upside if MongoDB delivers a strong quarter. Article: MongoDB had its buy rating reaffirmed by Rosenblatt Securities
• Positive Sentiment: Several previews highlighted Atlas growth, AI platform expansion, and enterprise demand as key drivers that could support revenue momentum and beat expectations. Article: MongoDB to Report Q1 Earnings: What's in the Cards for the Stock?
• Positive Sentiment: Wedbush said the market may be too conservative on revenue estimates, citing Atlas growth and AI momentum, while keeping MongoDB on its AI-focused watch list. Article: MongoDB Q1 preview: Wedbush sees upside to street estimates on Atlas growth, AI momentum
• Neutral Sentiment: MongoDB is set to report earnings Thursday afternoon, so trading may stay volatile as investors wait for results and guidance. Article: MongoDB Earnings: What To Look For From MDB
• Negative Sentiment: Some traders appear to be trimming exposure ahead of earnings after earlier guidance-related caution, and that positioning helped pressure the stock recently. Article: MongoDB slides 4.4% as investors brace for upcoming earnings and lingering post-guidance caution

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.

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