MongoDB (NASDAQ:MDB) Price Target Raised to $330.00 at Truist Financial

Key Points

• Truist Financial raised its price target for MongoDB from $275.00 to $330.00, indicating a potential upside of 53.96% from the previous close.
• MongoDB reported quarterly earnings of $1.00 per share, surpassing analysts' expectations of $0.65, alongside a year-over-year revenue increase of 21.8%.
• Insider trading activity saw CEO Dev Ittycheria selling 25,005 shares valued at $5.85 million, resulting in an 8.87% decrease in his ownership of the stock.

MongoDB (NASDAQ:MDB - Get Free Report) had its price objective upped by Truist Financial from $275.00 to $330.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's target price suggests a potential upside of 53.96% from the company's previous close.

A number of other brokerages have also recently weighed in on MDB. Macquarie reiterated a "neutral" rating and set a $230.00 price target (up from $215.00) on shares of MongoDB in a research report on Friday, June 6th. Barclays reiterated an "overweight" rating on shares of MongoDB in a research report on Wednesday. Piper Sandler lifted their price target on shares of MongoDB from $275.00 to $345.00 and gave the company an "overweight" rating in a research report on Wednesday. Bank of America raised their price objective on shares of MongoDB from $215.00 to $275.00 and gave the company a "buy" rating in a research note on Thursday, June 5th. Finally, Wedbush reissued an "outperform" rating and issued a $300.00 price objective on shares of MongoDB in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $298.34.

MongoDB Trading Down 1.9%

MongoDB stock opened at $214.34 on Wednesday. MongoDB has a 12-month low of $140.78 and a 12-month high of $370.00. The stock has a market cap of $17.51 billion, a P/E ratio of -188.02 and a beta of 1.44. The company has a 50-day moving average price of $216.53 and a 200 day moving average price of $206.25.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.35. MongoDB had a negative net margin of 4.09% and a negative return on equity of 3.16%. The business had revenue of $549.01 million during the quarter, compared to analysts' expectations of $527.49 million. During the same period last year, the business earned $0.51 earnings per share. The business's revenue for the quarter was up 21.8% on a year-over-year basis. MongoDB has set its FY 2026 guidance at 2.940-3.120 EPS. Q2 2026 guidance at 0.620-0.660 EPS. As a group, analysts forecast that MongoDB will post -1.78 EPS for the current year.

Insider Buying and Selling

In related news, CEO Dev Ittycheria sold 25,005 shares of MongoDB stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $234.00, for a total value of $5,851,170.00. Following the completion of the transaction, the chief executive officer owned 256,974 shares in the company, valued at $60,131,916. The trade was a 8.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hope F. Cochran sold 1,174 shares of MongoDB stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total transaction of $236,067.92. Following the completion of the transaction, the director owned 21,096 shares of the company's stock, valued at $4,241,983.68. This represents a 5.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,416 shares of company stock worth $11,936,656 over the last 90 days. 3.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MDB. AQR Capital Management LLC grew its position in MongoDB by 2,567.2% during the 2nd quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company's stock worth $233,435,000 after purchasing an additional 1,069,969 shares during the last quarter. Jericho Capital Asset Management L.P. purchased a new position in MongoDB during the 1st quarter worth $161,543,000. Norges Bank purchased a new position in MongoDB during the 2nd quarter worth $164,338,000. Primecap Management Co. CA increased its stake in MongoDB by 863.5% in the 1st quarter. Primecap Management Co. CA now owns 870,550 shares of the company's stock valued at $152,694,000 after buying an additional 780,200 shares during the period. Finally, Vanguard Group Inc. increased its stake in MongoDB by 9.5% in the 2nd quarter. Vanguard Group Inc. now owns 8,554,315 shares of the company's stock valued at $1,796,321,000 after buying an additional 744,547 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

About MongoDB

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.

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