MongoDB (NASDAQ:MDB) Stock Price Expected to Rise, Bank of America Analyst Says

Key Points

• Bank of America raised its price target on MongoDB from $390 to $450 and kept a buy rating, implying about 27.6% upside from the prior close.
• Several other analysts also turned more positive, with recent target increases from firms like Canaccord, Mizuho, BMO, and Barclays. Overall, MongoDB now has a consensus Moderate Buy rating and an average target price of $396.39.
• The stock traded up 0.5% to $352.66 after the company posted stronger-than-expected quarterly results, including EPS of $1.32 versus $1.19 expected and revenue growth of 25.2% year over year.

MongoDB (NASDAQ:MDB - Get Free Report) had its target price lifted by research analysts at Bank of America from $390.00 to $450.00 in a report released on Monday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Bank of America's price target points to a potential upside of 27.60% from the company's previous close.

Several other research firms have also recently weighed in on MDB. Canaccord Genuity Group raised their target price on shares of MongoDB from $375.00 to $400.00 and gave the company a "buy" rating in a research note on Wednesday, May 27th. Robert W. Baird raised their target price on shares of MongoDB from $260.00 to $335.00 and gave the company a "neutral" rating in a research note on Wednesday, May 20th. Mizuho raised 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. BMO Capital Markets raised their target price on shares of MongoDB from $360.00 to $375.00 and gave the company an "outperform" rating in a research note on Friday, May 29th. Finally, Barclays raised their target price on shares of MongoDB from $370.00 to $387.00 and gave the company an "overweight" rating in a research note on Friday, May 29th. Twenty-eight investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $396.39.

MongoDB Trading Up 0.5%

Shares of NASDAQ MDB traded up $1.92 during midday trading on Monday, reaching $352.66. The company's stock had a trading volume of 1,075,831 shares, compared to its average volume of 2,042,767. MongoDB has a fifty-two week low of $196.00 and a fifty-two week high of $444.72. The stock has a market capitalization of $28.34 billion, a price-to-earnings ratio of -952.79, a PEG ratio of 1,505.91 and a beta of 1.57. The stock has a 50 day simple moving average of $285.37 and a 200-day simple moving average of $334.31.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.13. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. The company had revenue of $687.62 million for the quarter, compared to the consensus estimate of $664.53 million. During the same period last year, the company earned $1.00 earnings per share. The firm's revenue was up 25.2% compared to the same quarter last year. 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 analysts anticipate that MongoDB will post 0.02 EPS for the current year.

Insiders Place Their Bets

In other news, Director Hope F. Cochran sold 1,566 shares of MongoDB stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $249.33, for a total transaction of $390,450.78. Following the completion of the sale, the director owned 24,093 shares of the company's stock, valued at approximately $6,007,107.69. This trade represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dwight A. Merriman sold 10,000 shares of MongoDB stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $297.99, for a total value of $2,979,900.00. Following the sale, the director directly owned 993,316 shares of the company's stock, valued at $295,998,234.84. This represents a 1.00% 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. Insiders sold a total of 76,616 shares of company stock valued at $26,629,774 over the last ninety days. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On MongoDB

A number of hedge funds and other institutional investors have recently modified their holdings of MDB. Clark Financial Services Group Inc. BD raised its holdings in MongoDB by 1.5% in the 4th quarter. Clark Financial Services Group Inc. BD now owns 1,669 shares of the company's stock valued at $702,000 after acquiring an additional 25 shares in the last quarter. Root Financial Partners LLC increased its position in shares of MongoDB by 58.2% in the fourth quarter. Root Financial Partners LLC now owns 87 shares of the company's stock worth $37,000 after purchasing an additional 32 shares during the period. True Wealth Design LLC increased its position in shares of MongoDB by 9.4% in the fourth quarter. True Wealth Design LLC now owns 419 shares of the company's stock worth $176,000 after purchasing an additional 36 shares during the period. HighPoint Advisor Group LLC raised its stake in MongoDB by 2.5% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,491 shares of the company's stock valued at $626,000 after purchasing an additional 36 shares in the last quarter. Finally, Lido Advisors LLC lifted its position in MongoDB by 3.4% during the fourth quarter. Lido Advisors LLC now owns 1,092 shares of the company's stock worth $458,000 after purchasing an additional 36 shares during the period. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.