MongoDB (NASDAQ:MDB) Given “Buy” Rating at Needham & Company LLC

MongoDB (NASDAQ:MDB)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $430.00 target price on the stock. Needham & Company LLC’s target price points to a potential upside of 23.18% from the stock’s previous close.

A number of other brokerages have also recently issued reports on MDB. Evercore restated an “outperform” rating on shares of MongoDB in a report on Thursday, September 24th. Bank of America raised their target price on MongoDB from $390.00 to $450.00 and gave the stock a “buy” rating in a report on Monday, June 8th. Truist Financial raised their target price on MongoDB from $400.00 to $475.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Wall Street Zen upgraded MongoDB from a “hold” rating to a “buy” rating in a report on Saturday, September 5th. Finally, Citigroup restated a “market outperform” rating on shares of MongoDB in a report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $462.59.

MongoDB Trading Up 3.5%

MongoDB stock traded up $11.90 during mid-day trading on Wednesday, hitting $349.09. The stock had a trading volume of 5,321,582 shares, compared to its average volume of 2,018,039. The stock has a 50-day simple moving average of $387.97 and a two-hundred day simple moving average of $331.74. The stock has a market capitalization of $28.12 billion, a PE ratio of 489.74, a P/E/G ratio of 35.95 and a beta of 1.58. MongoDB has a 12 month low of $215.68 and a 12 month high of $473.10.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Tuesday, September 1st. The company reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.28. The business had revenue of $771.77 million for the quarter, compared to analysts’ expectations of $735.01 million. MongoDB had a return on equity of 1.06% and a net margin of 2.12%.The firm’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.00 earnings per share. MongoDB has set its Q3 2027 guidance at 1.570-1.610 EPS and its FY 2027 guidance at 6.390-6.580 EPS. Sell-side analysts expect that MongoDB will post 0.47 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Hope F. Cochran sold 1,000 shares of MongoDB stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $375.92, for a total transaction of $375,920.00. Following the transaction, the director owned 28,326 shares in the company, valued at $10,648,309.92. The trade was a 3.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dwight A. Merriman sold 10,000 shares of MongoDB stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $470.59, for a total value of $4,705,900.00. Following the transaction, the director owned 962,953 shares in the company, valued at $453,156,052.27. This trade represents a 1.03% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 17,000 shares of company stock worth $7,792,320 in the last quarter. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MongoDB

Several institutional investors have recently modified their holdings of MDB. QRG Capital Management Inc. raised its position in MongoDB by 10.3% in the 2nd quarter. QRG Capital Management Inc. now owns 1,341 shares of the company’s stock valued at $450,000 after buying an additional 125 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its position in MongoDB by 59.3% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 7,243 shares of the company’s stock valued at $2,433,000 after buying an additional 2,697 shares during the last quarter. SkyView Investment Advisors LLC acquired a new stake in MongoDB in the 2nd quarter valued at approximately $252,000. Sequoia Financial Advisors LLC raised its position in MongoDB by 36.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,610 shares of the company’s stock valued at $877,000 after buying an additional 701 shares during the last quarter. Finally, National Pension Service raised its position in MongoDB by 10.7% in the 2nd quarter. National Pension Service now owns 153,687 shares of the company’s stock valued at $51,623,000 after buying an additional 14,866 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: Higher growth outlook: MongoDB raised its fiscal 2028–2030 revenue-growth target to at least 20%, up from the high teens. Bank of America called Investor Day a net positive and maintained its Buy rating. Management also indicated that Atlas could grow at a mid-20% rate over the next several years. MongoDB has AI momentum on its side, BofA says following investor day
• Positive Sentiment: AI product momentum: MongoDB launched MongoDB 9.0, Atlas Infinite and Atlas Agent Engine. The releases are designed to improve database performance, support highly elastic AI workloads and provide retrieval, memory and governance tools for production AI agents. The company also partnered with Cognition to help customers modernize legacy infrastructure for MongoDB Atlas. MongoDB launches Atlas Agent Engine
• Positive Sentiment: Analyst and options support: Citizens JMP, RBC, Needham and DA Davidson reaffirmed favorable ratings, with price targets ranging from $430 to $519. Investors also purchased an unusually high volume of call options, suggesting increased speculative bullish interest after the selloff.
• Neutral Sentiment: Leadership transition being managed: The board reinstated former CEO Dev Ittycheria as interim chief executive, reaffirmed fiscal 2027 guidance and began searching for a permanent successor. These steps reduce immediate execution concerns, but the lack of a permanent CEO remains an overhang. MongoDB Stock Drops After CEO Exit
• Negative Sentiment: CEO departure remains a risk: Desai’s unexpected move to Meta raised questions about MongoDB’s strategy and leadership continuity, contributing to a significant recent decline. Some analysts lowered their price targets, including Stifel to $385, Stephens to $372 and BMO to $420, despite retaining positive or neutral ratings.

About MongoDB

MongoDB, Inc develops and provides a general-purpose, document-oriented database platform. Its technology is designed to help organizations store, manage and analyze structured and unstructured data for applications such as artificial intelligence, analytics, mobile services, e-commerce and enterprise software.

The company’s principal offering is MongoDB Atlas, a fully managed cloud database service available across major cloud infrastructure providers. MongoDB also offers Enterprise Advanced, which provides commercial database software, security, operational controls and support for organizations running databases in their own environments or across hybrid and multicloud infrastructures.