MongoDB, Inc. (NASDAQ:MDB) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Analysts remain broadly bullish on MongoDB: Of 37 covering firms, 28 rate the stock a buy and two rate it a strong buy, producing a “Moderate Buy” consensus. The average 12-month price target is $462.59.
• MongoDB exceeded quarterly expectations: The company reported $1.90 in adjusted EPS versus a $1.62 consensus estimate, while revenue of $771.77 million rose 30.5% year over year and topped expectations.
• Institutional ownership is high, while insiders have been selling: Hedge funds and other institutions own 89.29% of the stock, but insiders sold 17,000 shares worth approximately $7.8 million during the latest quarter.

MongoDB, Inc. (NASDAQ:MDB - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the thirty-seven research firms that are covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $462.59.

A number of brokerages recently issued reports on MDB. Evercore reissued an "outperform" rating on shares of MongoDB in a research report on Thursday, September 24th. Piper Sandler reaffirmed an "overweight" rating and set a $470.00 price target on shares of MongoDB in a research report on Wednesday, September 30th. Rosenblatt Securities boosted their price objective on MongoDB from $395.00 to $445.00 and gave the company a "buy" rating in a research note on Wednesday, September 2nd. Cantor Fitzgerald reiterated an "overweight" rating and issued a $540.00 price objective on shares of MongoDB in a research note on Friday, October 2nd. Finally, Guggenheim reissued a "buy" rating and issued a $560.00 price objective on shares of MongoDB in a report on Tuesday, September 29th.

MongoDB Price Performance

Shares of NASDAQ:MDB opened at $360.71 on Wednesday. MongoDB has a 12 month low of $215.68 and a 12 month high of $473.10. The firm has a market capitalization of $29.06 billion, a P/E ratio of 508.04, a P/E/G ratio of 38.59 and a beta of 1.74. The company's fifty day moving average price is $393.08 and its 200 day moving average price is $334.91.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings data on Tuesday, September 1st. The company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.28. MongoDB had a net margin of 2.12% and a return on equity of 1.06%. The company had revenue of $771.77 million during the quarter, compared to the consensus estimate of $735.01 million. During the same quarter in the prior year, the firm posted $1.00 earnings per share. MongoDB's revenue for the quarter was up 30.5% on a year-over-year basis. 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, sell-side analysts anticipate that MongoDB will post 0.47 EPS for the current year.

Insider Buying and Selling at MongoDB

In related news, Director Hope Cochran sold 1,000 shares of the company's stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $375.92, for a total value of $375,920.00. Following the completion of the sale, the director owned 28,326 shares in the company, valued at $10,648,309.92. This represents a 3.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dwight Merriman sold 6,000 shares of the firm's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $451.75, for a total transaction of $2,710,500.00. Following the transaction, the director directly owned 452,896 shares in the company, valued at $204,595,768. The trade was a 1.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 17,000 shares of company stock valued at $7,792,320. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On MongoDB

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Juncture Wealth Strategies LLC increased its position in MongoDB by 10.3% in the 3rd quarter. Juncture Wealth Strategies LLC now owns 792 shares of the company's stock valued at $276,000 after acquiring an additional 74 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in MongoDB by 5,333.3% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 8,150 shares of the company's stock valued at $2,841,000 after acquiring an additional 8,000 shares during the last quarter. Versant Capital Management Inc lifted its position in MongoDB by 8.7% during the 3rd quarter. Versant Capital Management Inc now owns 1,712 shares of the company's stock worth $597,000 after acquiring an additional 137 shares during the period. QRG Capital Management Inc. lifted its position in MongoDB by 10.3% during the 2nd quarter. QRG Capital Management Inc. now owns 1,341 shares of the company's stock worth $450,000 after acquiring an additional 125 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its stake in shares of MongoDB by 59.3% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 7,243 shares of the company's stock valued at $2,433,000 after purchasing an additional 2,697 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company's stock.

MongoDB Company Profile

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.

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.