MongoDB's (MDB) Outperform Rating Reaffirmed at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has reaffirmed its "outperform" rating for MongoDB (MDB) and set a target price of $350.00, indicating a 10.90% upside potential.
• The consensus rating for MongoDB among analysts is "Moderate Buy", with a consensus price target of $310.86.
• MongoDB reported a revenue increase of 21.8% year-over-year, with earnings per share of $1.00 exceeding analyst expectations.

MongoDB (NASDAQ:MDB - Get Free Report)'s stock had its "outperform" rating restated by equities research analysts at Royal Bank Of Canada in a report issued on Tuesday,Benzinga reports. They presently have a $350.00 target price on the stock. Royal Bank Of Canada's price target would suggest a potential upside of 10.90% from the stock's previous close.

A number of other equities analysts have also commented on MDB. Zacks Research upgraded shares of MongoDB to a "hold" rating in a research report on Friday, August 8th. Scotiabank upped their target price on shares of MongoDB from $230.00 to $280.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 27th. UBS Group upped their target price on shares of MongoDB from $240.00 to $310.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 27th. Stifel Nicolaus upped their target price on shares of MongoDB from $275.00 to $325.00 and gave the stock a "buy" rating in a research report on Wednesday, August 27th. Finally, Stephens initiated coverage on shares of MongoDB in a research report on Friday, July 18th. They set an "equal weight" rating and a $247.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat, MongoDB presently has a consensus rating of "Moderate Buy" and a consensus price target of $310.86.

MongoDB Stock Performance

Shares of MongoDB stock opened at $315.61 on Tuesday. The firm's 50-day simple moving average is $225.17 and its 200-day simple moving average is $206.28. MongoDB has a twelve month low of $140.78 and a twelve month high of $370.00. The firm has a market cap of $25.79 billion, a P/E ratio of -322.05 and a beta of 1.49.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.35. MongoDB had a negative net margin of 3.54% and a negative return on equity of 1.67%. The business had revenue of $549.01 million for the quarter, compared to analyst estimates of $527.49 million. During the same period in the previous year, the business earned $0.51 EPS. The firm's revenue was up 21.8% on a year-over-year basis. MongoDB has set its FY 2026 guidance at 2.940-3.120 EPS. Q2 2026 guidance at 0.620-0.660 EPS. On average, equities analysts forecast that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insider Transactions at MongoDB

In other news, Director Hope F. Cochran sold 1,174 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $201.08, for a total transaction of $236,067.92. Following the completion of the sale, the director owned 21,096 shares of the company's stock, valued at $4,241,983.68. This represents a 5.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dwight A. Merriman sold 1,000 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $245.00, for a total transaction of $245,000.00. Following the sale, the director directly owned 1,104,316 shares of the company's stock, valued at $270,557,420. This represents a 0.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,416 shares of company stock valued at $11,936,656 over the last quarter. Corporate insiders own 3.10% of the company's stock.

Institutional Trading of MongoDB

A number of large investors have recently added to or reduced their stakes in the company. Main Management ETF Advisors LLC lifted its stake in MongoDB by 1.7% in the second quarter. Main Management ETF Advisors LLC now owns 3,665 shares of the company's stock valued at $770,000 after acquiring an additional 60 shares during the last quarter. Carnegie Investment Counsel raised its stake in MongoDB by 3.6% in the 2nd quarter. Carnegie Investment Counsel now owns 1,803 shares of the company's stock worth $379,000 after purchasing an additional 62 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in MongoDB by 0.4% in the 1st quarter. Handelsbanken Fonder AB now owns 14,816 shares of the company's stock valued at $2,599,000 after buying an additional 65 shares during the period. New York Life Investment Management LLC increased its holdings in MongoDB by 6.2% in the 2nd quarter. New York Life Investment Management LLC now owns 1,236 shares of the company's stock valued at $260,000 after buying an additional 72 shares during the period. Finally, Wedbush Securities Inc. increased its holdings in MongoDB by 2.6% in the 1st quarter. Wedbush Securities Inc. now owns 3,022 shares of the company's stock valued at $530,000 after buying an additional 77 shares during the period. Institutional investors and hedge funds own 89.29% of the company's stock.

About MongoDB

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.

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