MongoDB (NASDAQ:MDB) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded MongoDB from “buy” to “hold,” even though the broader analyst community remains mostly positive with a Moderate Buy consensus and an average target price of $394.45.
• MongoDB shares were down 7.7% in Friday trading, opening at $350.74 after reaching a 12-month high of $444.72 and a low of $196.00.
• The company recently reported better-than-expected quarterly results, with EPS of $1.32 versus $1.19 expected and revenue of $687.62 million, up 25.2% year over year.

MongoDB (NASDAQ:MDB - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Sunday.

Several other research analysts have also recently commented on MDB. Guggenheim reaffirmed a "buy" rating and set a $475.00 target price on shares of MongoDB in a report on Friday, May 29th. Citizens Jmp reaffirmed a "market outperform" rating and set a $366.00 target price on shares of MongoDB in a report on Friday, May 29th. BMO Capital Markets lifted their price objective 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. Sanford C. Bernstein cut shares of MongoDB from an "outperform" rating to a "market perform" rating in a research note on Tuesday, March 3rd. Finally, Canaccord Genuity Group lifted their price objective 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. Twenty-eight investment 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 presently has a consensus rating of "Moderate Buy" and an average target price of $394.45.

MongoDB Trading Down 7.7%

Shares of MDB opened at $350.74 on Friday. MongoDB has a 12 month low of $196.00 and a 12 month high of $444.72. The firm's 50 day moving average is $285.37 and its 200-day moving average is $334.35. The stock has a market capitalization of $28.19 billion, a PE ratio of -947.95 and a beta of 1.57.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its earnings results on Thursday, May 28th. The company reported $1.32 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $664.53 million. During the same period last year, the firm earned $1.00 earnings per share. The business's revenue for the quarter was up 25.2% on a year-over-year basis. MongoDB has set its FY 2027 guidance at 5.950-6.140 EPS and its Q2 2027 guidance at 1.580-1.610 EPS. Equities research analysts predict that MongoDB will post 0.02 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In related news, Director Hope F. Cochran sold 1,566 shares of MongoDB stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total value of $390,450.78. Following the transaction, the director directly owned 24,093 shares of the company's stock, valued at $6,007,107.69. This trade represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dwight A. Merriman sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $297.99, for a total transaction of $2,979,900.00. Following the completion of the sale, the director owned 993,316 shares in the company, valued at $295,998,234.84. This represents a 1.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 76,616 shares of company stock valued at $26,629,774 over the last three months. 2.60% of the stock is owned by insiders.

Institutional Trading of MongoDB

A number of hedge funds have recently added to or reduced their stakes in the stock. Clark Financial Services Group Inc. BD boosted its position in MongoDB by 1.5% in the fourth quarter. Clark Financial Services Group Inc. BD now owns 1,669 shares of the company's stock valued at $702,000 after buying an additional 25 shares in the last quarter. Root Financial Partners LLC boosted its position in MongoDB by 58.2% in the fourth quarter. Root Financial Partners LLC now owns 87 shares of the company's stock valued at $37,000 after buying an additional 32 shares in the last quarter. True Wealth Design LLC boosted its position in MongoDB by 9.4% in the fourth quarter. True Wealth Design LLC now owns 419 shares of the company's stock valued at $176,000 after buying an additional 36 shares in the last quarter. HighPoint Advisor Group LLC boosted its position 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 buying an additional 36 shares in the last quarter. Finally, Lido Advisors LLC boosted its position in MongoDB by 3.4% in the fourth quarter. Lido Advisors LLC now owns 1,092 shares of the company's stock valued at $458,000 after buying an additional 36 shares in the last quarter. Institutional investors and hedge funds 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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