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

Key Points

• Royal Bank of Canada reaffirmed its “outperform” rating on MongoDB and kept a $395 price target, implying about 14.5% upside from the prior close.
• Wall Street sentiment remains generally positive overall: MongoDB has 26 Buy ratings versus 8 Holds and 2 Sells, with an average analyst target of $365.03.
• MongoDB recently beat earnings and revenue expectations for the quarter, but the stock has also seen insider selling and is trading between its 50-day and 200-day moving averages as investors look for confirmation of a growth rebound.

MongoDB (NASDAQ:MDB - Get Free Report)'s stock had its "outperform" rating restated by investment analysts at Royal Bank Of Canada in a report issued on Tuesday,Benzinga reports. They presently have a $395.00 target price on the stock. Royal Bank Of Canada's price target would indicate a potential upside of 14.49% from the stock's previous close.

A number of other analysts have also weighed in on MDB. Zacks Research raised MongoDB from a "strong sell" rating to a "hold" rating in a research report on Friday. Citigroup boosted their target price on MongoDB from $400.00 to $450.00 and gave the stock a "buy" rating in a research note on Tuesday, May 12th. Robert W. Baird restated a "neutral" rating and set a $260.00 price target (down from $500.00) on shares of MongoDB in a report on Tuesday, March 3rd. Needham & Company LLC reduced their price target on MongoDB from $500.00 to $300.00 and set a "buy" rating on the stock in a research report on Tuesday, March 3rd. Finally, Weiss Ratings cut MongoDB from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Wednesday, April 29th. Twenty-six investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $365.03.

MongoDB Stock Performance

Shares of MDB traded up $15.00 during mid-day trading on Tuesday, hitting $345.00. 203,885 shares of the company's stock were exchanged, compared to its average volume of 1,806,257. The stock's 50-day moving average is $263.75 and its 200-day moving average is $335.69. MongoDB has a fifty-two week low of $182.43 and a fifty-two week high of $444.72. The company has a market cap of $27.73 billion, a price-to-earnings ratio of -394.26 and a beta of 1.48.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings data on Monday, March 2nd. The company reported $1.65 earnings per share for the quarter, beating analysts' consensus estimates of $1.47 by $0.18. The firm had revenue of $695.07 million during the quarter, compared to analysts' expectations of $669.40 million. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The business's quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.28 earnings per share. As a group, equities research analysts anticipate that MongoDB will post -0.46 EPS for the current year.

Insider Buying and Selling

In other MongoDB news, Director Hope F. Cochran sold 1,566 shares of the 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 in the company, valued at $6,007,107.69. This represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Dwight A. Merriman sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $297.99, for a total transaction of $2,979,900.00. Following the sale, the director directly owned 993,316 shares in the company, valued at approximately $295,998,234.84. The trade was 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 31,566 shares of company stock valued at $8,744,791 over the last ninety days. 3.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On MongoDB

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. ValueAct Holdings L.P. increased its position in shares of MongoDB by 206.8% during the third quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company's stock worth $657,447,000 after purchasing an additional 1,427,700 shares in the last quarter. Norges Bank purchased a new stake in shares of MongoDB in the 4th quarter valued at about $574,821,000. AQR Capital Management LLC boosted its position in shares of MongoDB by 2,567.2% in the 2nd quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company's stock valued at $233,435,000 after purchasing an additional 1,069,969 shares during the period. Jericho Capital Asset Management L.P. grew its stake in MongoDB by 162.1% during 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 last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in MongoDB by 162.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,097,059 shares of the company's stock worth $340,505,000 after buying an additional 678,746 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

MongoDB News Summary

Here are the key news stories impacting MongoDB this week:

• Positive Sentiment: Bank of America raised its price target on MongoDB to $375 from $350, implying meaningful upside from current levels and reinforcing a more constructive Wall Street view ahead of earnings.
• Positive Sentiment: Analyst sentiment remains broadly favorable, with multiple firms maintaining buy or outperform ratings and recent commentary highlighting MongoDB’s AI data platform initiatives and potential Atlas consumption rebound.
• Neutral Sentiment: CEO/founder Dwight Merriman disclosed multiple planned sales of MongoDB shares, including a 6,000-share sale and a prior 10,000-share sale, both executed under a pre-arranged 10b5-1 trading plan. While routine, these trades can still weigh on sentiment because they show insider selling rather than buying. Article Title
• Neutral Sentiment: MongoDB recently beat quarterly EPS and revenue expectations, and the stock has been trading well above its 50-day average, but it remains slightly below its 200-day average, leaving investors focused on whether the next report confirms a sustained growth rebound.

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.

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.