Scotiabank Forecasts Strong Price Appreciation for MongoDB (NASDAQ:MDB) Stock

Key Points

• Scotiabank has raised its price target for MongoDB from $230 to $280, indicating a potential upside of 30.63% from its previous closing price.
• Other analysts have also increased their price targets for MongoDB, with an average target of $295.60, reflecting a consensus rating of "Moderate Buy" among analysts.
• MongoDB's stock performance shows significant fluctuations, with a 1-year low of $140.78 and a high of $370.00, while the company recently reported earnings that beat analysts' expectations.

MongoDB (NASDAQ:MDB - Get Free Report) had its price objective boosted by equities research analysts at Scotiabank from $230.00 to $280.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a "sector perform" rating on the stock. Scotiabank's target price suggests a potential upside of 30.63% from the stock's previous close.

Several other equities analysts also recently issued reports on the stock. Cantor Fitzgerald raised their price objective on MongoDB from $252.00 to $271.00 and gave the stock an "overweight" rating in a report on Thursday, June 5th. Rosenblatt Securities reissued a "buy" rating and issued a $290.00 price objective on shares of MongoDB in a research note on Friday, August 22nd. Bank of America increased their target price on shares of MongoDB from $215.00 to $275.00 and gave the company a "buy" rating in a report on Thursday, June 5th. Macquarie reissued a "neutral" rating and set a $230.00 price objective (up from $215.00) on shares of MongoDB in a research note on Friday, June 6th. Finally, Citigroup increased their target price on MongoDB from $395.00 to $405.00 and gave the company a "buy" rating in a report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $295.60.

MongoDB Stock Performance

Shares of MDB opened at $214.34 on Wednesday. MongoDB has a 1 year low of $140.78 and a 1 year high of $370.00. The stock has a market capitalization of $17.51 billion, a PE ratio of -188.02 and a beta of 1.44. The stock has a 50-day simple moving average of $216.53 and a 200-day simple moving average of $206.25.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.65 by $0.35. The company had revenue of $549.01 million for the quarter, compared to the consensus estimate of $527.49 million. MongoDB had a negative net margin of 4.09% and a negative return on equity of 3.16%. The company's quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.51 EPS. MongoDB has set its FY 2026 guidance at 2.940-3.120 EPS. Q2 2026 guidance at 0.620-0.660 EPS. Analysts predict that MongoDB will post -1.78 EPS for the current year.

Insiders Place Their Bets

In other news, Director Dwight A. Merriman sold 1,000 shares of the firm's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $245.00, for a total value of $245,000.00. Following the transaction, the director owned 1,104,316 shares of the company's stock, valued at approximately $270,557,420. This trade represents a 0.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction on Monday, July 28th. The shares were sold at an average price of $243.89, for a total value of $2,032,823.15. Following the completion of the sale, the chief executive officer owned 236,557 shares of the company's stock, valued at approximately $57,693,886.73. This represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,416 shares of company stock worth $11,936,656 over the last ninety days. 3.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On MongoDB

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new position in shares of MongoDB during the first quarter worth about $25,000. Hollencrest Capital Management bought a new position in shares of MongoDB during the first quarter worth about $26,000. Cullen Frost Bankers Inc. lifted its position in shares of MongoDB by 315.8% during the first quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock worth $28,000 after purchasing an additional 120 shares during the last quarter. Montag A & Associates Inc. lifted its position in shares of MongoDB by 144.3% during the second quarter. Montag A & Associates Inc. now owns 171 shares of the company's stock worth $36,000 after purchasing an additional 101 shares during the last quarter. Finally, Promus Capital LLC bought a new position in shares of MongoDB during the second quarter worth about $36,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

MongoDB Company Profile

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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