MongoDB (NASDAQ:MDB) Stock Picked Up by Analysts at BTIG Research

Analysts at BTIG Research initiated coverage on shares of MongoDB (NASDAQ:MDB) in a note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $417.00 price target on the stock. BTIG Research‘s price objective indicates a potential upside of 27.38% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Piper Sandler reaffirmed an “overweight” rating and set a $470.00 price objective on shares of MongoDB in a research report on Wednesday, September 30th. Stephens cut their target price on shares of MongoDB from $398.00 to $372.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 30th. Morgan Stanley restated an “overweight” rating on shares of MongoDB in a research note on Wednesday, September 30th. Truist Financial upped their target price on MongoDB from $400.00 to $475.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Finally, Canaccord Genuity Group increased their price target on MongoDB from $400.00 to $480.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $460.59.

MongoDB Price Performance

MongoDB stock opened at $327.37 on Tuesday. The company has a market cap of $26.37 billion, a PE ratio of 461.08, a P/E/G ratio of 29.90 and a beta of 1.74. The company has a fifty day moving average price of $370.97 and a two-hundred day moving average price of $336.99. MongoDB has a 12 month low of $215.68 and a 12 month high of $473.10.

MongoDB (NASDAQ:MDB) last released its earnings results on Tuesday, September 1st. The company reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.28. The firm had revenue of $771.77 million during the quarter, compared to analyst estimates of $735.01 million. MongoDB had a net margin of 2.12% and a return on equity of 1.06%. The firm’s revenue for the quarter was up 30.5% compared to the same quarter last year. During the same quarter in the previous year, the firm 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. Equities research analysts anticipate that MongoDB will post 0.50 earnings per share for the current year.

Insider Activity

In related news, Director Dwight Merriman sold 9,275 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $347.17, for a total value of $3,220,001.75. Following the sale, the director owned 72,987 shares of the company’s stock, valued at $25,338,896.79. This trade represents a 11.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope Cochran sold 1,000 shares of MongoDB stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $375.92, for a total transaction of $375,920.00. Following the completion of the sale, the director owned 28,326 shares in the company, valued at approximately $10,648,309.92. This represents a 3.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 52,465 shares of company stock worth $20,382,936 in the last 90 days. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On MongoDB

Institutional investors have recently bought and sold shares of the stock. Smallwood Wealth Investment Management LLC bought a new position in shares of MongoDB in the second quarter valued at approximately $34,000. NBH Bank bought a new stake in MongoDB during the second quarter worth approximately $34,000. Bessemer Group Inc. raised its holdings in MongoDB by 44.9% during the third quarter. Bessemer Group Inc. now owns 100 shares of the company’s stock worth $35,000 after purchasing an additional 31 shares in the last quarter. CX Institutional raised its holdings in MongoDB by 94.3% during the second quarter. CX Institutional now owns 103 shares of the company’s stock worth $35,000 after purchasing an additional 50 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in MongoDB in the first quarter worth approximately $34,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Company Profile

MongoDB, Inc develops database software and related services for businesses and developers. Its core product, MongoDB, is a document database designed to store and manage data in a flexible format for applications across a range of industries and use cases.

The company offers MongoDB Atlas, a managed cloud database service available across major cloud platforms, as well as software that customers can deploy in their own environments. MongoDB also provides tools and services for application development, database management, security, and data operations.

Founded in 2007 as 10gen, the company introduced its database software under the MongoDB name and later adopted that name as its corporate identity.