Citizens Jmp Issues Positive Forecast for MongoDB (NASDAQ:MDB) Stock Price

Key Points

• Citizens JMP raised MongoDB’s price target to $519 from $366 while maintaining a “market outperform” rating, implying roughly 21% upside from the prior close.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and average price target of $427.48, although ratings range from Strong Buy to Sell.
• MongoDB reported quarterly revenue of $687.62 million and EPS of $1.32, beating estimates, while revenue increased 25.2% year over year. Insiders sold approximately $49.3 million of stock over the past 90 days, and institutional investors own 89.29% of shares.

MongoDB (NASDAQ:MDB - Get Free Report) had its price objective raised by equities research analysts at Citizens Jmp from $366.00 to $519.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "market outperform" rating on the stock. Citizens Jmp's price target points to a potential upside of 21.27% from the company's previous close.

Several other research analysts also recently weighed in on MDB. Rosenblatt Securities reissued a "buy" rating and issued a $385.00 target price on shares of MongoDB in a research report on Tuesday, May 26th. Wall Street Zen downgraded shares of MongoDB from a "buy" rating to a "hold" rating in a research report on Sunday, July 26th. Monness Crespi & Hardt lifted their price objective on shares of MongoDB from $370.00 to $415.00 and gave the stock a "buy" rating in a research report on Friday, May 29th. Cantor Fitzgerald boosted their target price on shares of MongoDB from $378.00 to $416.00 and gave the company an "overweight" rating in a research note on Tuesday, May 26th. Finally, Stifel Nicolaus set a $475.00 target price on MongoDB in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $427.48.

MongoDB Stock Down 1.5%

Shares of MongoDB stock opened at $427.96 on Wednesday. The stock's fifty day moving average is $352.08 and its 200-day moving average is $317.28. The firm has a market capitalization of $34.42 billion, a PE ratio of -1,155.21, a price-to-earnings-growth ratio of 3,270.10 and a beta of 1.55. MongoDB has a 12-month low of $206.92 and a 12-month high of $473.10.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its earnings results on Thursday, May 28th. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.19 by $0.13. The business had revenue of $687.62 million during the quarter, compared to the consensus estimate of $664.53 million. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.MongoDB's revenue was up 25.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.00 earnings per share. 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 expect 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 business's stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $383.16, for a total transaction of $15,326,400.00. Following the transaction, the director directly owned 161,762 shares of the company's stock, valued at approximately $61,980,727.92. The trade was a 19.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Hope F. Cochran sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the transaction, the director owned 29,326 shares in the company, valued at approximately $10,264,100. This represents a 3.30% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 in the last 90 days. Corporate insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On MongoDB

Institutional investors and hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC boosted its position in MongoDB by 31.6% during the first quarter. Integrated Wealth Concepts LLC now owns 1,363 shares of the company's stock valued at $239,000 after purchasing an additional 327 shares during the last quarter. NewEdge Advisors LLC increased its position in MongoDB by 55.0% in the 1st quarter. NewEdge Advisors LLC now owns 4,238 shares of the company's stock worth $743,000 after purchasing an additional 1,504 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of MongoDB during the 2nd quarter worth about $329,000. Cresset Asset Management LLC raised its stake in shares of MongoDB by 13.4% during the 2nd quarter. Cresset Asset Management LLC now owns 3,138 shares of the company's stock worth $659,000 after purchasing an additional 370 shares in the last quarter. Finally, Cerity Partners LLC raised its stake in shares of MongoDB by 28.3% during the 2nd quarter. Cerity Partners LLC now owns 12,215 shares of the company's stock worth $2,565,000 after purchasing an additional 2,697 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

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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