MongoDB (NASDAQ:MDB) Downgraded by Wall Street Zen to "Hold"

Key Points

• Wall Street Zen downgraded MongoDB from “buy” to “hold”, even as most other analysts remain bullish. The stock still carries a Moderate Buy consensus with an average target price of $405.35.
• MongoDB reported better-than-expected quarterly results, with EPS of $1.32 versus estimates of $1.19 and revenue of $687.62 million versus $664.53 million. Revenue jumped 25.2% year over year, and the company issued forward EPS guidance for FY2027 and Q2 2027.
• Insider selling has been notable, including recent share sales by CFO Michael J. Berry and Director Dev Ittycheria. In the last 90 days, insiders sold 127,746 shares worth about $47.3 million.

MongoDB (NASDAQ:MDB - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Sunday.

Several other brokerages also recently weighed in on MDB. Citizens Jmp reiterated a "market outperform" rating and issued a $366.00 price target on shares of MongoDB in a report on Friday, May 29th. Needham & Company LLC lifted their price objective on MongoDB from $400.00 to $430.00 and gave the company a "buy" rating in a research report on Friday, July 10th. Mizuho upped their target price on MongoDB from $325.00 to $400.00 and gave the company an "outperform" rating in a research note on Friday, May 29th. Guggenheim reiterated a "buy" rating and set a $475.00 target price on shares of MongoDB in a research report on Friday, May 29th. Finally, Bank of America raised their price target on MongoDB from $390.00 to $450.00 and gave the stock a "buy" rating in a research note on Monday, June 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $405.35.

MongoDB Price Performance

MongoDB stock opened at $298.22 on Friday. MongoDB has a 12-month low of $198.47 and a 12-month high of $444.72. The stock has a market capitalization of $23.99 billion, a P/E ratio of -806.00, a P/E/G ratio of 1,222.21 and a beta of 1.55. The firm's 50-day moving average is $336.75 and its two-hundred day moving average is $320.24.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings results on Thursday, May 28th. The company reported $1.32 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 1.12% and a negative return on equity of 1.39%. The company's quarterly revenue was up 25.2% compared to the same quarter last year. During the same period in the previous year, the firm 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. As a group, analysts forecast that MongoDB will post 0.02 EPS for the current year.

Insider Activity

In other MongoDB news, CFO Michael J. Berry sold 5,000 shares of the company's stock in a transaction dated 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 completion of the sale, the chief financial officer directly owned 1,500 shares in the company, valued at $534,945. This represents a 76.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dev Ittycheria sold 40,000 shares of the company's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $383.16, for a total value of $15,326,400.00. Following the sale, the director owned 161,762 shares of the company's stock, valued at $61,980,727.92. This represents a 19.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 127,746 shares of company stock valued at $47,343,538 in the last 90 days. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of MongoDB by 115.1% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 354,720 shares of the company's stock worth $148,872,000 after buying an additional 189,820 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in shares of MongoDB by 69.6% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 345,563 shares of the company's stock valued at $145,029,000 after buying an additional 141,755 shares in the last quarter. Fiera Capital Corp raised its holdings in shares of MongoDB by 33.6% during the 4th quarter. Fiera Capital Corp now owns 183,035 shares of the company's stock valued at $76,818,000 after buying an additional 46,051 shares during the period. Massachusetts Financial Services Co. MA lifted its position in MongoDB by 611.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 715,100 shares of the company's stock worth $300,120,000 after acquiring an additional 614,559 shares in the last quarter. Finally, M&T Bank Corp lifted its position in MongoDB by 12,467.7% during the 4th quarter. M&T Bank Corp now owns 323,744 shares of the company's stock worth $135,872,000 after acquiring an additional 321,168 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

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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