Scotiabank Has Optimistic Outlook of MongoDB FY2027 Earnings

Key Points

• Scotiabank raised its FY2027 EPS estimate for MongoDB to a loss of $0.32 per share from $0.52, while keeping a Sector Outperform rating and a $395 price target.
• MongoDB’s latest quarterly results beat expectations, with EPS of $1.32 versus $1.19 expected and revenue of $687.62 million versus $664.53 million expected, marking 25.2% year-over-year revenue growth.
• Wall Street sentiment remains broadly positive, with multiple analysts lifting price targets and the stock carrying a consensus Moderate Buy rating and average target of $390.43.

MongoDB, Inc. (NASDAQ:MDB - Free Report) - Investment analysts at Scotiabank increased their FY2027 earnings per share (EPS) estimates for shares of MongoDB in a research report issued to clients and investors on Friday, May 29th. Scotiabank analyst P. Colville now expects that the company will earn ($0.32) per share for the year, up from their prior estimate of ($0.52). Scotiabank currently has a "Sector Outperform" rating and a $395.00 price objective on the stock. The consensus estimate for MongoDB's current full-year earnings is ($0.46) per share.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its earnings results on Thursday, May 28th. The company reported $1.32 earnings per share 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 for the quarter, compared to the consensus estimate of $664.53 million. During the same quarter in the prior year, the business earned $1.00 EPS. The business's revenue for the quarter 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.

Other research analysts also recently issued research reports about the company. Piper Sandler upped their target price on MongoDB from $330.00 to $400.00 and gave the stock an "overweight" rating in a report on Friday. Oppenheimer upped their target price on MongoDB from $375.00 to $410.00 and gave the stock an "outperform" rating in a report on Friday. Citizens Jmp reiterated a "market outperform" rating and set a $366.00 target price on shares of MongoDB in a report on Friday. Wedbush upped their price target on MongoDB from $380.00 to $390.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, Zacks Research upgraded MongoDB from a "strong sell" rating to a "hold" rating in a research note on Friday, May 15th. Twenty-seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $390.43.

MongoDB Stock Performance

MDB stock opened at $403.88 on Tuesday. MongoDB has a fifty-two week low of $183.64 and a fifty-two week high of $444.72. The business's 50 day moving average price is $276.11 and its two-hundred day moving average price is $333.69. The company has a market capitalization of $32.46 billion, a price-to-earnings ratio of -1,091.57 and a beta of 1.48.

Institutional Trading of MongoDB

Several institutional investors have recently added to or reduced their stakes in MDB. Integrated Wealth Concepts LLC boosted its stake in MongoDB by 31.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,363 shares of the company's stock valued at $239,000 after purchasing an additional 327 shares during the last quarter. NewEdge Advisors LLC boosted its stake in shares of MongoDB by 55.0% in the 1st quarter. NewEdge Advisors LLC now owns 4,238 shares of the company's stock worth $743,000 after buying an additional 1,504 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of MongoDB in the 2nd quarter worth $329,000. Cresset Asset Management LLC boosted its stake in shares of MongoDB by 13.4% in the 2nd quarter. Cresset Asset Management LLC now owns 3,138 shares of the company's stock worth $659,000 after buying an additional 370 shares during the last quarter. Finally, Cerity Partners LLC boosted its stake in shares of MongoDB by 28.3% in the 2nd quarter. Cerity Partners LLC now owns 12,215 shares of the company's stock worth $2,565,000 after buying an additional 2,697 shares during the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 6,000 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $314.98, for a total transaction of $1,889,880.00. Following the sale, the director directly owned 470,896 shares in the company, valued at approximately $148,322,822.08. This trade represents a 1.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope F. Cochran sold 1,566 shares of the stock in a transaction 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 sale, the director owned 24,093 shares in the company, valued at approximately $6,007,107.69. This represents a 6.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 31,566 shares of company stock worth $8,744,791. Company insiders own 2.60% 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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