Scotiabank Issues Positive Forecast for MongoDB (NASDAQ:MDB) Stock Price

Key Points

• Scotiabank raised its price target on MongoDB from $310 to $395 and kept a sector outperform rating, implying about 27% upside from the current price.
• MongoDB’s latest quarterly results topped expectations, with EPS of $1.32 and revenue of $687.6 million, while revenue grew 25.2% year over year.
• Analyst sentiment has turned more bullish after the earnings report, with several firms lifting targets; the stock now has an average Moderate Buy rating and consensus target of $385.93.

MongoDB (NASDAQ:MDB - Get Free Report) had its target price hoisted by equities researchers at Scotiabank from $310.00 to $395.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "sector outperform" rating on the stock. Scotiabank's price target would suggest a potential upside of 27.41% from the company's current price.

Several other brokerages have also commented on MDB. Needham & Company LLC restated an "overweight" rating on shares of MongoDB in a research note on Friday. Stifel Nicolaus set a $435.00 price target on shares of MongoDB in a research note on Friday. Cantor Fitzgerald raised their price objective on shares of MongoDB from $378.00 to $416.00 and gave the company an "overweight" rating in a research note on Tuesday. Robert W. Baird raised their price objective on shares of MongoDB from $260.00 to $335.00 and gave the company a "neutral" rating in a research note on Wednesday, May 20th. Finally, Morgan Stanley raised their price objective on shares of MongoDB from $335.00 to $380.00 and gave the company an "overweight" rating in a research note on Friday. Twenty-seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, MongoDB presently has an average rating of "Moderate Buy" and an average price target of $385.93.

MongoDB Stock Performance

Shares of MongoDB stock traded down $15.65 on Friday, reaching $310.03. 5,333,468 shares of the company were exchanged, compared to its average volume of 1,949,068. The company's 50-day moving average is $272.10 and its two-hundred day moving average is $333.73. MongoDB has a 1-year low of $182.43 and a 1-year high of $444.72. The firm has a market cap of $24.92 billion, a price-to-earnings ratio of -351.83 and a beta of 1.48.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings results on Thursday, May 28th. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.19 by $0.13. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The company had revenue of $687.62 million for the quarter, compared to analyst estimates of $664.53 million. During the same quarter last year, the business earned $1.00 earnings per share. MongoDB's revenue was up 25.2% compared to the same quarter last year. MongoDB has set its FY 2027 guidance at 5.950-6.140 EPS and its Q2 2027 guidance at 1.580-1.610 EPS. As a group, sell-side analysts forecast that MongoDB will post -0.46 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Dwight A. Merriman sold 10,000 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $297.99, for a total transaction of $2,979,900.00. Following the transaction, the director owned 993,316 shares in the company, valued at $295,998,234.84. This trade represents a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 1,566 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $249.33, for a total transaction of $390,450.78. Following the sale, the director owned 24,093 shares of the company's stock, valued at $6,007,107.69. The trade was a 6.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 31,566 shares of company stock worth $8,744,791 in the last quarter. Company insiders own 2.60% of the company's stock.

Institutional Trading of MongoDB

A number of large investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC boosted its stake in MongoDB by 31.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 1,363 shares of the company's stock worth $239,000 after purchasing an additional 327 shares during the period. NewEdge Advisors LLC boosted its stake in 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 purchasing an additional 1,504 shares during the period. Sivia Capital Partners LLC acquired a new position in MongoDB in the 2nd quarter worth approximately $329,000. Cresset Asset Management LLC boosted its stake in 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 purchasing an additional 370 shares during the period. Finally, Cerity Partners LLC boosted its stake in 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 purchasing an additional 2,697 shares during the period. 89.29% of the stock is currently owned by institutional investors.

MongoDB News Summary

Here are the key news stories impacting MongoDB this week:

• Positive Sentiment: MongoDB reported Q1 revenue of $687.6 million, up about 25% year over year and above Wall Street expectations, while non-GAAP EPS of $1.32 also topped estimates. MongoDB NASDAQ: MDB Reports Upbeat Q1 CY2026, Stock Jumps 22.1%
• Positive Sentiment: The company raised its full-year FY2027 outlook and Q2 guidance well above consensus, reinforcing confidence that recent growth can continue. MongoDB, Inc. Announces First Quarter Fiscal 2027 Financial Results
• Positive Sentiment: Atlas remains the main growth engine, with Atlas revenue up more than 29% year over year, which supports the bullish narrative around MongoDB’s cloud and AI exposure. MongoDB tops Q1 estimates, raises full-year outlook on Atlas strength
• Positive Sentiment: Analysts turned more constructive after the results, including Barclays, Guggenheim, Bank of America, Wedbush, Oppenheimer, Mizuho, BMO, and others raising price targets, signaling higher expectations for the stock. Benzinga analyst target update
• Neutral Sentiment: Some commentary notes that traders are still debating whether the company’s comments imply Atlas growth could become more predictable, but that appears secondary to the strong earnings and guidance beat. Why MDB Stock Is Up Overnight After Wild Ride Today

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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