MongoDB, Inc. (NASDAQ:MDB) Receives $396.39 Consensus Price Target from Brokerages

MongoDB, Inc. (NASDAQ:MDB) has been given a consensus rating of “Moderate Buy” by the thirty-five ratings firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and twenty-seven have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $396.3871.

MDB has been the subject of a number of research reports. Bank of America boosted their price target on MongoDB from $390.00 to $450.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Canaccord Genuity Group raised their price objective on MongoDB from $375.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, May 27th. Monness Crespi & Hardt lifted their price objective on MongoDB from $370.00 to $415.00 and gave the company a “buy” rating in a research note on Friday, May 29th. UBS Group boosted their target price on MongoDB from $275.00 to $350.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Finally, Cantor Fitzgerald increased their target price on shares of MongoDB from $378.00 to $416.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 26th.

MongoDB Price Performance

Shares of MDB stock opened at $359.38 on Monday. The firm’s 50-day simple moving average is $317.50 and its 200-day simple moving average is $330.29. MongoDB has a 1-year low of $198.47 and a 1-year high of $444.72. The firm has a market cap of $28.90 billion, a P/E ratio of -971.30, a PEG ratio of 1,211.44 and a beta of 1.55.

MongoDB (NASDAQ:MDB) last released its earnings results on Thursday, May 28th. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.13. The firm had revenue of $687.62 million during the quarter, compared to the consensus estimate of $664.53 million. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. MongoDB’s revenue was up 25.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.00 earnings per share. MongoDB has set its FY 2027 guidance at 5.950-6.140 EPS and its Q2 2027 guidance at 1.580-1.610 EPS. Analysts expect that MongoDB will post 0.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Dwight A. Merriman sold 6,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $348.92, for a total transaction of $2,093,520.00. Following the sale, the director directly owned 464,896 shares in the company, valued at approximately $162,211,512.32. This trade represents a 1.27% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope F. Cochran sold 1,566 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $344.05, for a total value of $538,782.30. Following the transaction, the director directly owned 25,444 shares in the company, valued at $8,754,008.20. This trade represents a 5.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 137,616 shares of company stock valued at $49,520,276. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of MongoDB

Large investors have recently bought and sold shares of the company. ValueAct Holdings L.P. lifted its stake in shares of MongoDB by 206.8% in the third quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock worth $657,447,000 after acquiring an additional 1,427,700 shares in the last quarter. State Street Corp grew its stake in MongoDB by 2.3% during the 4th quarter. State Street Corp now owns 1,796,847 shares of the company’s stock valued at $754,119,000 after purchasing an additional 40,219 shares in the last quarter. Amundi increased its holdings in MongoDB by 61.3% during the 3rd quarter. Amundi now owns 1,483,396 shares of the company’s stock worth $477,550,000 after purchasing an additional 563,995 shares during the last quarter. Geode Capital Management LLC increased its holdings in MongoDB by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,444,384 shares of the company’s stock worth $604,429,000 after purchasing an additional 9,693 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. raised its position in shares of MongoDB by 162.1% in the 3rd quarter. Jericho Capital Asset Management L.P. now owns 1,378,540 shares of the company’s stock valued at $427,871,000 after purchasing an additional 852,540 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

About MongoDB

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.