MongoDB (NASDAQ:MDB) Stock Price Breaks Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• MongoDB shares moved above their 200-day moving average of $336.32, reaching $346.44 before last trading at $338.12.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $460.59, though individual ratings and targets vary.
• In its latest reported quarter, MongoDB beat earnings and revenue estimates: EPS was $1.90 versus $1.62 expected, while revenue of $771.77 million was up 30.5% year over year.

Shares of MongoDB, Inc. (NASDAQ:MDB - Get Free Report) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $336.32 and traded as high as $346.44. MongoDB shares last traded at $338.12, with a volume of 883,900 shares changing hands.

Wall Street Analysts Forecast Growth

MDB has been the subject of a number of analyst reports. Mizuho set a $460.00 price target on MongoDB in a report on Tuesday, September 29th. Weiss Ratings lowered MongoDB from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, October 27th. Citigroup reiterated a "market outperform" rating on shares of MongoDB in a research report on Monday, September 28th. Truist Financial lifted their price target on MongoDB from $400.00 to $475.00 and gave the stock a "buy" rating in a report on Thursday, August 20th. Finally, Stifel Nicolaus decreased their target price on shares of MongoDB from $465.00 to $385.00 and set a "buy" rating on the stock in a research report on Wednesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $460.59.

MongoDB Price Performance

The stock's 50 day moving average is $366.62 and its two-hundred day moving average is $336.32. The stock has a market capitalization of $27.24 billion, a PE ratio of 476.23, a price-to-earnings-growth ratio of 30.22 and a beta of 1.74.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings data on Tuesday, September 1st. The company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.28. The business had revenue of $771.77 million during the quarter, compared to analysts' expectations of $735.01 million. MongoDB had a net margin of 2.12% and a return on equity of 1.06%. The company's revenue for the quarter was up 30.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.00 EPS. MongoDB has set its Q3 2027 guidance at 1.570-1.610 EPS and its FY 2027 guidance at 6.390-6.580 EPS. On average, equities analysts predict that MongoDB, Inc. will post 0.50 earnings per share for the current year.

Insider Activity at MongoDB

In related news, Director Dwight A. Merriman sold 9,275 shares of the firm's stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $347.17, for a total transaction of $3,220,001.75. Following the transaction, the director owned 72,987 shares in the company, valued at $25,338,896.79. This trade represents a 11.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope F. Cochran sold 1,000 shares of MongoDB stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $375.92, for a total transaction of $375,920.00. Following the completion of the transaction, the director directly owned 28,326 shares in the company, valued at $10,648,309.92. The trade was a 3.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 52,465 shares of company stock worth $20,382,936 over the last 90 days. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of MongoDB

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aberdeen Group plc lifted its holdings in shares of MongoDB by 1,318.0% during the third quarter. Aberdeen Group plc now owns 1,077,745 shares of the company's stock worth $375,713,000 after purchasing an additional 1,001,740 shares during the period. Voya Investment Management LLC lifted its position in shares of MongoDB by 21.8% during the 3rd quarter. Voya Investment Management LLC now owns 1,063,195 shares of the company's stock valued at $370,411,000 after acquiring an additional 189,941 shares during the period. Bank of America Corp DE boosted its stake in shares of MongoDB by 0.3% during the 1st quarter. Bank of America Corp DE now owns 555,305 shares of the company's stock worth $135,922,000 after acquiring an additional 1,852 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of MongoDB by 55.0% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 549,970 shares of the company's stock worth $134,616,000 after acquiring an additional 195,250 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in MongoDB by 19.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 337,780 shares of the company's stock valued at $118,807,000 after purchasing an additional 54,907 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

About MongoDB

MongoDB, Inc. develops database software and related services for businesses and developers. Its core product, MongoDB, is a document database designed to store and manage data in a flexible format for applications across a range of industries and use cases. The company offers MongoDB Atlas, a managed cloud database service available across major cloud platforms, as well as software that customers can deploy in their own environments. MongoDB also provides tools and services for application development, database management, security, and data operations.

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