MongoDB (NASDAQ:MDB) Price Target Raised to $400.00

Key Points

• Truist Financial raised its price target on MongoDB to $400 from $375 and kept a buy rating, implying about 10% upside from the current price.
• Analyst sentiment remains constructive overall, with MongoDB holding a Moderate Buy consensus rating and an average target price of $399.47 across multiple firms.
• MongoDB recently beat earnings expectations, reporting $1.32 EPS and $687.62 million in revenue, while revenue rose 25.2% year over year.

MongoDB (NASDAQ:MDB - Get Free Report) had its price target raised by analysts at Truist Financial from $375.00 to $400.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's target price would indicate a potential upside of 9.94% from the stock's current price.

A number of other research analysts have also recently commented on the company. Stifel Nicolaus set a $435.00 target price on MongoDB in a research note on Friday, May 29th. Scotiabank reaffirmed an "outperform" rating on shares of MongoDB in a research note on Friday, May 29th. KGI Securities initiated coverage on MongoDB in a report on Wednesday. They issued an "outperform" rating and a $470.00 price objective for the company. Wall Street Zen cut MongoDB from a "buy" rating to a "hold" rating in a report on Sunday, June 7th. Finally, Mizuho increased their price objective on MongoDB from $325.00 to $400.00 and gave the company an "outperform" rating in a research report on Friday, May 29th. Twenty-eight equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $399.47.

MongoDB Price Performance

Shares of MDB opened at $363.85 on Thursday. MongoDB has a 1-year low of $198.47 and a 1-year high of $444.72. The company has a market capitalization of $29.26 billion, a P/E ratio of -972.76, a P/E/G ratio of 1,303.12 and a beta of 1.55. The firm's 50 day simple moving average is $327.12 and its 200 day simple moving average is $328.14.

MongoDB (NASDAQ:MDB - Get Free Report) last released 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 analysts' expectations of $664.53 million. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. The business's quarterly revenue was up 25.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.00 EPS. MongoDB has set its FY 2027 guidance at 5.950-6.140 EPS and its Q2 2027 guidance at 1.580-1.610 EPS. On average, equities analysts anticipate that MongoDB will post 0.02 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Dwight A. Merriman sold 10,000 shares of the business's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $353.91, for a total value of $3,539,100.00. Following the completion of the sale, the director owned 983,316 shares of the company's stock, valued at approximately $348,005,365.56. The trade was a 1.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dev Ittycheria sold 40,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the director owned 161,762 shares in the company, valued at approximately $61,980,727.92. The trade was a 19.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 139,746 shares of company stock worth $50,247,978 in the last ninety days. Corporate insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MDB. Central Pacific Bank Trust Division purchased a new stake in MongoDB during the 4th quarter valued at $28,000. Cornerstone Planning Group LLC increased its position in shares of MongoDB by 1,220.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company's stock valued at $27,000 after acquiring an additional 61 shares during the period. International Assets Investment Management LLC bought a new position in shares of MongoDB during the fourth quarter valued at about $33,000. Root Financial Partners LLC raised its stake in shares of 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 last quarter. Finally, Global Trust Asset Management LLC purchased a new stake in shares of MongoDB during the fourth quarter worth about $38,000. Institutional investors own 89.29% of the company's stock.

MongoDB Company Profile

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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