MongoDB (NASDAQ:MDB) Raised to "Strong-Buy" at KGI Securities

Key Points

• KGI Securities upgraded MongoDB to “strong-buy”, adding to a broadly positive analyst backdrop. Overall, the stock has a consensus rating of Moderate Buy with an average target price of $400.41.
• MongoDB’s latest quarterly results beat expectations, with $1.32 EPS versus the $1.19 estimate and $687.62 million in revenue versus $664.53 million expected. Revenue rose 25.2% year over year.
• Insider selling has been notable, including sales by CFO Michael J. Berry and director Roelof Botha; insiders sold 139,746 shares worth about $50.2 million over the last 90 days. Meanwhile, hedge funds and other institutions own 89.29% of the stock.

MongoDB (NASDAQ:MDB - Get Free Report) was upgraded by research analysts at KGI Securities to a "strong-buy" rating in a note issued to investors on Wednesday,Zacks.com reports.

MDB has been the subject of several other reports. Tigress Financial lifted their price objective on MongoDB from $430.00 to $515.00 and gave the stock a "buy" rating in a report on Tuesday, June 2nd. Barclays lifted their price target on shares of MongoDB from $370.00 to $387.00 and gave the stock an "overweight" rating in a research note on Friday, May 29th. Wall Street Zen downgraded shares of MongoDB from a "buy" rating to a "hold" rating in a research report on Sunday, June 7th. Cantor Fitzgerald lifted their target price on shares of MongoDB from $378.00 to $416.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 26th. Finally, Mizuho boosted their target price on shares of MongoDB from $325.00 to $400.00 and gave the company an "outperform" rating in a research note on Friday, May 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $400.41.

MongoDB Price Performance

MDB opened at $342.08 on Wednesday. The firm has a market capitalization of $27.51 billion, a price-to-earnings ratio of -924.54, a PEG ratio of 1,308.71 and a beta of 1.55. The company's 50 day moving average price is $330.89 and its two-hundred day moving average price is $327.77. MongoDB has a fifty-two week low of $198.47 and a fifty-two week high of $444.72.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings results on Thursday, May 28th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate 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 net margin of 1.12% and a negative return on equity of 1.39%. The firm's revenue for the quarter was up 25.2% compared to the same quarter last year. During the same quarter in the previous year, the business 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, equities research analysts predict that MongoDB will post 0.02 EPS for the current year.

Insider Buying and Selling

In related news, CFO Michael J. Berry sold 5,000 shares of MongoDB stock in a transaction on 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 transaction, the chief financial officer directly owned 1,500 shares in the company, valued at approximately $534,945. The trade was a 76.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roelof Botha sold 44,050 shares of MongoDB 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 transaction, the director owned 150,550 shares in the company, valued at $59,929,438.50. This trade represents a 22.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 139,746 shares of company stock valued at $50,247,978 in the last 90 days. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MDB. Kinetic Partners Management LP increased its stake in shares of MongoDB by 27.2% in the third quarter. Kinetic Partners Management LP now owns 195,769 shares of the company's stock worth $60,763,000 after purchasing an additional 41,810 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of MongoDB by 115.1% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 354,720 shares of the company's stock valued at $148,872,000 after buying an additional 189,820 shares in the last quarter. Jericho Capital Asset Management L.P. boosted its holdings in MongoDB by 162.1% in the 3rd quarter. Jericho Capital Asset Management L.P. now owns 1,378,540 shares of the company's stock worth $427,871,000 after buying an additional 852,540 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in MongoDB by 69.6% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 345,563 shares of the company's stock worth $145,029,000 after buying an additional 141,755 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in MongoDB by 611.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 715,100 shares of the company's stock worth $300,120,000 after buying an additional 614,559 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

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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