MongoDB (NASDAQ:MDB) Given New $515.00 Price Target at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised MongoDB’s price target to $515 from $395 and maintained an “outperform” rating, implying 12.82% upside from the prior close. Citigroup also increased its target to $545, while the broader analyst consensus remains “Moderate Buy.”
• MongoDB shares rose 4.3% to $456.50, near their 52-week high of $461.13. The company’s latest quarterly results exceeded expectations, with adjusted EPS of $1.32 versus $1.19 expected and revenue of $687.62 million, up 25.2% year over year.
• Insiders have been selling shares: directors sold roughly 115,746 shares worth $43.8 million over the past three months, while institutional investors and hedge funds own 89.29% of MongoDB’s stock.

MongoDB (NASDAQ:MDB - Get Free Report) had its price objective boosted by stock analysts at Royal Bank Of Canada from $395.00 to $515.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's price objective indicates a potential upside of 12.82% from the stock's previous close.

MDB has been the subject of several other reports. Citigroup raised their target price on MongoDB from $455.00 to $545.00 and gave the stock a "buy" rating in a research report on Tuesday. Piper Sandler upped their price target on MongoDB from $330.00 to $400.00 and gave the company an "overweight" rating in a research report on Friday, May 29th. Truist Financial increased their price target on MongoDB from $375.00 to $400.00 and gave the company a "buy" rating in a research note on Thursday, July 9th. Barclays raised their price objective on MongoDB from $370.00 to $387.00 and gave the stock an "overweight" rating in a research report on Friday, May 29th. Finally, Wedbush lifted their price objective on MongoDB from $380.00 to $390.00 and gave the stock an "outperform" rating in a research note on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, MongoDB has an average rating of "Moderate Buy" and an average price target of $414.23.

MongoDB Trading Up 4.3%

MDB traded up $18.67 during trading on Thursday, reaching $456.50. 410,043 shares of the company's stock were exchanged, compared to its average volume of 1,881,667. MongoDB has a one year low of $202.05 and a one year high of $461.13. The stock has a market capitalization of $36.72 billion, a PE ratio of -1,236.36, a price-to-earnings-growth ratio of 1,799.84 and a beta of 1.55. The firm has a fifty day moving average price of $344.44 and a two-hundred day moving average price of $316.06.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings results 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. The firm 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 revenue for the quarter was up 25.2% on a year-over-year basis. During the same quarter last year, the firm earned $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. Sell-side analysts expect that MongoDB will post 0.02 earnings per share for the current year.

Insiders Place Their Bets

In other MongoDB news, Director Dev Ittycheria sold 40,000 shares of MongoDB stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $383.16, for a total value of $15,326,400.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dwight A. Merriman sold 1,130 shares of the company's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $334.25, for a total transaction of $377,702.50. Following the transaction, the director owned 982,953 shares in the company, valued at $328,552,040.25. This represents a 0.11% 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. In the last three months, insiders sold 115,746 shares of company stock valued at $43,783,518. 2.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MDB. Root Financial Partners LLC raised its holdings in MongoDB by 58.2% during the fourth quarter. Root Financial Partners LLC now owns 87 shares of the company's stock valued at $37,000 after acquiring an additional 32 shares during the period. Moody National Bank Trust Division boosted its stake in shares of MongoDB by 3.1% in the second quarter. Moody National Bank Trust Division now owns 1,123 shares of the company's stock worth $377,000 after acquiring an additional 34 shares during the period. HighPoint Advisor Group LLC grew its position in shares of MongoDB by 2.5% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,491 shares of the company's stock worth $626,000 after purchasing an additional 36 shares in the last quarter. Lido Advisors LLC raised its stake in MongoDB by 3.4% during the 4th quarter. Lido Advisors LLC now owns 1,092 shares of the company's stock valued at $458,000 after purchasing an additional 36 shares during the period. Finally, Basecamp Wealth Advisors LLC lifted its holdings in MongoDB by 14.3% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 287 shares of the company's stock worth $70,000 after purchasing an additional 36 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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