MongoDB (NASDAQ:MDB) Price Target Raised to $475.00

Key Points

• Truist Financial raised MongoDB’s price target from $400 to $475 and maintained a “buy” rating, implying 12.98% upside from the prior close. Analysts overall assign the stock a “Moderate Buy” consensus rating with an average target of $429.90.
• MongoDB shares fell 4.6% to $420.41, despite the company recently exceeding quarterly earnings and revenue expectations; revenue increased 25.2% year over year.
• Insiders sold significant shares: executives and directors sold 125,746 shares worth about $49.3 million over the past 90 days, while institutional investors continue to own a substantial 89.29% of the company.

MongoDB (NASDAQ:MDB - Get Free Report) had its target price lifted by research analysts at Truist Financial from $400.00 to $475.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's price objective suggests a potential upside of 12.98% from the stock's previous close.

Several other equities research analysts have also recently issued reports on MDB. Weiss Ratings upgraded MongoDB from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, August 13th. Zacks Research raised MongoDB from a "strong sell" rating to a "hold" rating in a report on Friday, May 15th. Guggenheim increased their price objective on MongoDB from $475.00 to $560.00 and gave the company a "buy" rating in a report on Tuesday. Wall Street Zen downgraded MongoDB from a "buy" rating to a "hold" rating in a research note on Sunday, July 26th. Finally, KGI Securities started coverage on shares of MongoDB in a research report on Wednesday, July 8th. They set an "outperform" rating and a $470.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $429.90.

MongoDB Trading Down 4.6%

MDB stock traded down $20.12 on Thursday, hitting $420.41. The company had a trading volume of 457,769 shares, compared to its average volume of 1,871,009. MongoDB has a 12-month low of $206.92 and a 12-month high of $473.10. The stock has a market cap of $33.81 billion, a price-to-earnings ratio of -1,136.24, a P/E/G ratio of 3,087.46 and a beta of 1.55. The stock's 50-day simple moving average is $353.93 and its 200 day simple moving average is $317.75.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings results on Thursday, May 28th. The company reported $1.32 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.13. The business had revenue of $687.62 million for the quarter, compared to analysts' expectations of $664.53 million. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.The business's quarterly revenue was up 25.2% on a year-over-year basis. During the same period 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. Research analysts forecast that MongoDB will post 0.01 earnings per share for the current year.

Insider Activity at MongoDB

In other MongoDB news, Director Roelof Botha sold 44,050 shares of the business's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $398.07, for a total value of $17,534,983.50. Following the sale, the director owned 150,550 shares of the company's stock, valued at $59,929,438.50. The trade was a 22.64% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Michael J. Berry sold 5,000 shares of MongoDB stock in a transaction on Monday, June 15th. The shares were sold at an average price of $356.63, for a total value of $1,783,150.00. Following the completion of the transaction, the chief financial officer owned 1,500 shares of the company's stock, valued at approximately $534,945. The trade was a 76.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 125,746 shares of company stock worth $49,310,038. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of MongoDB

Several institutional investors and hedge funds have recently bought and sold shares of the business. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of MongoDB by 115.1% during 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 last quarter. Fiera Capital Corp grew its holdings in shares of MongoDB by 33.6% during the fourth 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 last quarter. Virtus Wealth Solutions LLC lifted its stake in MongoDB by 288.3% during the 4th quarter. Virtus Wealth Solutions LLC now owns 6,854 shares of the company's stock valued at $2,877,000 after acquiring an additional 5,089 shares in the last quarter. Danica Pension Livsforsikringsaktieselskab bought a new position in shares of MongoDB in the fourth quarter valued at approximately $107,100,000. Finally, Bluebird Wealth Management LLC bought a new position in MongoDB during the fourth quarter valued at about $1,802,000. Institutional investors own 89.29% of the company's stock.

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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