MongoDB (NASDAQ:MDB) Upgraded by Wall Street Zen to Buy Rating

Key Points

• MongoDB was upgraded by Wall Street Zen from hold to buy, adding to a generally positive analyst backdrop for the stock.
• Several other firms recently raised their views or price targets, and MarketBeat data now shows a Moderate Buy consensus with an average price target of $405.35.
• Despite the upbeat analyst sentiment, the stock was down 5.0% and opened at $312.33; MongoDB also posted a strong quarter with EPS of $1.32 and revenue up 25.2% year over year.

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

A number of other brokerages have also recently weighed in on MDB. Cantor Fitzgerald lifted their price target on shares of MongoDB from $378.00 to $416.00 and gave the company an "overweight" rating in a research report on Tuesday, May 26th. Rosenblatt Securities restated a "buy" rating and issued a $385.00 price objective on shares of MongoDB in a report on Tuesday, May 26th. Mizuho increased their price objective on shares of MongoDB from $325.00 to $400.00 and gave the stock an "outperform" rating in a research report on Friday, May 29th. Morgan Stanley lifted their target price on shares of MongoDB from $335.00 to $380.00 and gave the company an "overweight" rating in a report on Friday, May 29th. Finally, Weiss Ratings lowered MongoDB from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $405.35.

MongoDB Stock Down 5.0%

Shares of MongoDB stock opened at $312.33 on Friday. The firm has a market cap of $25.12 billion, a PE ratio of -844.14, a price-to-earnings-growth ratio of 1,185.11 and a beta of 1.55. MongoDB has a 52 week low of $198.47 and a 52 week high of $444.72. The business's fifty day simple moving average is $336.51 and its 200-day simple moving average is $324.09.

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

Insider Buying and Selling at MongoDB

In other news, Director Hope F. Cochran sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the transaction, the director owned 29,326 shares of the company's stock, valued at approximately $10,264,100. This trade represents a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dev Ittycheria sold 40,000 shares of MongoDB stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $383.16, for a total transaction of $15,326,400.00. Following the completion of the transaction, the director owned 161,762 shares of the company's stock, valued at $61,980,727.92. This trade represents a 19.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 127,746 shares of company stock valued at $47,343,538. Corporate insiders own 2.60% of the company's stock.

Institutional Trading of MongoDB

A number of large investors have recently modified their holdings of MDB. ValueAct Holdings L.P. boosted its stake in shares of MongoDB by 206.8% in the 3rd quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company's stock valued at $657,447,000 after buying an additional 1,427,700 shares during the period. Norges Bank acquired a new position in shares of MongoDB during the fourth quarter worth about $574,821,000. AQR Capital Management LLC increased its stake in shares of MongoDB by 2,567.2% during the second quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company's stock worth $233,435,000 after buying an additional 1,069,969 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of MongoDB by 611.3% during the fourth 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. Finally, Amundi increased its stake in shares of MongoDB by 61.3% during the third quarter. Amundi now owns 1,483,396 shares of the company's stock worth $477,550,000 after buying an additional 563,995 shares during the period. Hedge funds and other 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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