Scotiabank Analysts Increase Earnings Estimates for MongoDB

MongoDB, Inc. (NASDAQ:MDB - Free Report) - Equities research analysts at Scotiabank raised their FY2026 earnings per share (EPS) estimates for MongoDB in a research note issued to investors on Monday, June 9th. Scotiabank analyst P. Colville now expects that the company will post earnings of ($2.09) per share for the year, up from their previous forecast of ($2.50). Scotiabank currently has a "Sector Perform" rating and a $230.00 price target on the stock. The consensus estimate for MongoDB's current full-year earnings is ($1.78) per share.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.35. The business had revenue of $549.01 million for the quarter, compared to analyst estimates of $527.49 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. MongoDB's quarterly revenue was up 21.8% compared to the same quarter last year. During the same period last year, the company posted $0.51 earnings per share.

A number of other research analysts have also recently commented on the company. Morgan Stanley dropped their price target on MongoDB from $315.00 to $235.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Truist Financial decreased their price objective on MongoDB from $300.00 to $275.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. KeyCorp lowered MongoDB from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Macquarie reiterated 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, Wells Fargo & Company lowered MongoDB from an "overweight" rating to an "equal weight" rating and decreased their price objective for the company from $365.00 to $225.00 in a research note on Thursday, March 6th. Eight analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $282.47.

MongoDB Price Performance

Shares of NASDAQ MDB traded up $0.06 during trading on Thursday, reaching $210.66. 2,180,893 shares of the stock traded hands, compared to its average volume of 1,955,898. MongoDB has a 52-week low of $140.78 and a 52-week high of $370.00. The company has a 50-day moving average of $179.38 and a 200-day moving average of $227.94. The stock has a market capitalization of $17.10 billion, a P/E ratio of -76.88 and a beta of 1.39.

Insider Activity

In other news, CEO Dev Ittycheria sold 25,005 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $234.00, for a total value of $5,851,170.00. Following the completion of the transaction, the chief executive officer now owns 256,974 shares in the company, valued at $60,131,916. This trade represents a 8.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dwight A. Merriman sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $234.00, for a total value of $468,000.00. Following the transaction, the director now directly owns 1,107,006 shares of the company's stock, valued at approximately $259,039,404. This trade represents a 0.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,208 shares of company stock worth $10,167,739 in the last quarter. 3.10% of the stock is owned by company insiders.

Institutional Trading of MongoDB

Institutional investors and hedge funds have recently modified their holdings of the business. Cloud Capital Management LLC purchased a new position in MongoDB in the first quarter worth about $25,000. Hollencrest Capital Management purchased a new position in MongoDB during the first quarter valued at $26,000. Cullen Frost Bankers Inc. lifted its position in MongoDB by 315.8% during the first quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock valued at $28,000 after purchasing an additional 120 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in MongoDB during the fourth quarter valued at $29,000. Finally, NCP Inc. purchased a new position in MongoDB during the fourth quarter valued at $35,000. Institutional investors own 89.29% of the company's stock.

About MongoDB

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.