Canaccord Genuity Group Issues Positive Forecast for MongoDB (NASDAQ:MDB) Stock Price

MongoDB (NASDAQ:MDB) had its price target increased by stock analysts at Canaccord Genuity Group from $375.00 to $400.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 34.29% from the company’s previous close.

A number of other equities analysts also recently weighed in on the stock. Weiss Ratings downgraded shares of MongoDB from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 29th. Oppenheimer decreased their target price on MongoDB from $425.00 to $375.00 and set an “outperform” rating on the stock in a report on Tuesday, March 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $395.00 price target on shares of MongoDB in a report on Tuesday, May 19th. Bank of America lifted their price objective on shares of MongoDB from $350.00 to $375.00 in a research report on Tuesday, May 19th. Finally, Sanford C. Bernstein lowered shares of MongoDB from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 3rd. Twenty-six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and an average target price of $374.13.

MongoDB Stock Down 3.1%

Shares of NASDAQ:MDB traded down $9.48 during midday trading on Wednesday, reaching $297.87. The company had a trading volume of 900,098 shares, compared to its average volume of 1,821,051. MongoDB has a 1-year low of $182.43 and a 1-year high of $444.72. The stock has a market cap of $23.94 billion, a PE ratio of -338.15 and a beta of 1.48. The business’s 50 day moving average price is $270.48 and its 200 day moving average price is $334.41.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Monday, March 2nd. The company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.47 by $0.18. The firm had revenue of $695.07 million during the quarter, compared to analysts’ expectations of $669.40 million. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The business’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.28 earnings per share. On average, research analysts expect that MongoDB will post -0.46 earnings per share for the current fiscal year.

Insider Activity

In other MongoDB news, Director Dwight A. Merriman sold 6,000 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $314.98, for a total value of $1,889,880.00. Following the completion of the sale, the director owned 470,896 shares of the company’s stock, valued at $148,322,822.08. The trade was a 1.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 transaction, the director directly owned 24,093 shares in the company, valued at $6,007,107.69. This represents a 6.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 31,566 shares of company stock valued at $8,744,791 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. ValueAct Holdings L.P. lifted its position in MongoDB by 206.8% during the third quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock worth $657,447,000 after purchasing an additional 1,427,700 shares during the period. Norges Bank acquired a new position in shares of MongoDB in the 4th quarter valued at approximately $574,821,000. AQR Capital Management LLC lifted its holdings in shares of MongoDB by 2,567.2% during the 2nd quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company’s stock worth $233,435,000 after acquiring an additional 1,069,969 shares during the period. Jericho Capital Asset Management L.P. boosted its position in shares of MongoDB by 162.1% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 1,378,540 shares of the company’s stock worth $427,871,000 after acquiring an additional 852,540 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in MongoDB by 162.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,097,059 shares of the company’s stock valued at $340,505,000 after acquiring an additional 678,746 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

Key MongoDB News

Here are the key news stories impacting MongoDB this week:

• Positive Sentiment: Cantor Fitzgerald raised its price target on MongoDB to $416 from $378 and reiterated an overweight rating, signaling confidence in upside ahead of earnings. Article: MongoDB PT Raised to $416 at Cantor Fitzgerald
• Positive Sentiment: Rosenblatt reaffirmed a buy rating and set a $385 target, also implying meaningful upside if MongoDB delivers a strong quarter. Article: MongoDB had its buy rating reaffirmed by Rosenblatt Securities
• Positive Sentiment: Several previews highlighted Atlas growth, AI platform expansion, and enterprise demand as key drivers that could support revenue momentum and beat expectations. Article: MongoDB to Report Q1 Earnings: What’s in the Cards for the Stock?
• Positive Sentiment: Wedbush said the market may be too conservative on revenue estimates, citing Atlas growth and AI momentum, while keeping MongoDB on its AI-focused watch list. Article: MongoDB Q1 preview: Wedbush sees upside to street estimates on Atlas growth, AI momentum
• Neutral Sentiment: MongoDB is set to report earnings Thursday afternoon, so trading may stay volatile as investors wait for results and guidance. Article: MongoDB Earnings: What To Look For From MDB
• Negative Sentiment: Some traders appear to be trimming exposure ahead of earnings after earlier guidance-related caution, and that positioning helped pressure the stock recently. Article: MongoDB slides 4.4% as investors brace for upcoming earnings and lingering post-guidance caution

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.