MongoDB (NASDAQ:MDB) Stock Rating Reaffirmed as “Buy” by Needham & Company LLC

MongoDB (NASDAQ:MDB)‘s stock had its “buy” rating reaffirmed by equities researchers 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 price target suggests a potential upside of 27.52% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the stock. Scotiabank reissued an “outperform” rating on shares of MongoDB in a research report on Wednesday, September 2nd. Canaccord Genuity Group boosted their price target on MongoDB from $400.00 to $480.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Royal Bank Of Canada lowered their price objective on MongoDB from $515.00 to $465.00 and set an “outperform” rating for the company in a research note on Wednesday, September 2nd. Cantor Fitzgerald lifted their price objective on MongoDB from $416.00 to $540.00 and gave the stock an “overweight” rating in a report on Monday, August 31st. Finally, Citigroup reaffirmed a “market outperform” rating on shares of MongoDB in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, MongoDB currently has an average rating of “Moderate Buy” and a consensus price target of $468.69.

MongoDB Stock Up 0.7%

MDB opened at $337.19 on Wednesday. The firm’s 50 day moving average is $387.97 and its 200-day moving average is $331.74. MongoDB has a 52-week low of $215.68 and a 52-week high of $473.10. The firm has a market capitalization of $27.16 billion, a P/E ratio of 474.92, a P/E/G ratio of 35.95 and a beta of 1.58.

MongoDB (NASDAQ:MDB) last announced 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. MongoDB had a net margin of 2.12% and a return on equity of 1.06%. The business had revenue of $771.77 million during the quarter, compared to the consensus estimate of $735.01 million. During the same period in the prior year, the firm earned $1.00 earnings per share. The business’s quarterly revenue was up 30.5% compared to the same quarter last year. 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 analysts expect that MongoDB will post 0.47 earnings per share for the current fiscal year.

Insider Transactions at MongoDB

In related news, Director Dwight A. Merriman sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $470.59, for a total value of $4,705,900.00. Following the sale, the director owned 962,953 shares of the company’s stock, valued at approximately $453,156,052.27. This trade represents a 1.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope F. Cochran sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The shares were sold at an average price of $375.92, for a total value of $375,920.00. Following the transaction, the director owned 28,326 shares of the company’s stock, valued at $10,648,309.92. This represents a 3.41% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 17,000 shares of company stock worth $7,792,320. Insiders own 2.60% of the company’s stock.

Institutional Trading of MongoDB

Hedge funds have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership grew its stake in shares of MongoDB by 21.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,336,397 shares of the company’s stock worth $560,872,000 after purchasing an additional 239,338 shares in the last quarter. Capital World Investors increased its holdings in shares of MongoDB by 129.1% during the fourth quarter. Capital World Investors now owns 980,182 shares of the company’s stock valued at $411,373,000 after purchasing an additional 552,434 shares during the period. Fred Alger Management LLC raised its stake in shares of MongoDB by 7.3% during the fourth quarter. Fred Alger Management LLC now owns 561,614 shares of the company’s stock valued at $235,704,000 after purchasing an additional 38,225 shares in the last quarter. Bank of America Corp DE lifted its holdings in MongoDB by 0.3% in the first quarter. Bank of America Corp DE now owns 555,305 shares of the company’s stock worth $135,922,000 after purchasing an additional 1,852 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its holdings in MongoDB by 55.0% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 549,970 shares of the company’s stock worth $134,616,000 after purchasing an additional 195,250 shares during the period. Institutional investors own 89.29% of the company’s stock.

Key Stories Impacting MongoDB

Here are the key news stories impacting MongoDB this week:

• Positive Sentiment: MongoDB unveiled MongoDB 9.0, Atlas Infinite and Atlas Agent Engine at its Investor Day. The company says MongoDB 9.0 offers up to twice the throughput, 35% faster reads and 30% faster updates, while Atlas Infinite is designed to scale rapidly for unpredictable AI workloads. MongoDB launches MongoDB 9.0 and Atlas Infinite
• Positive Sentiment: The partnership with Cognition, creator of Devin, is intended to help customers modernize legacy infrastructure faster and migrate workloads to MongoDB Atlas, potentially supporting enterprise adoption. Cognition and MongoDB partnership
• Positive Sentiment: MongoDB reaffirmed its fiscal 2027 third-quarter and full-year guidance following the CEO transition, suggesting that management does not currently see a material deterioration in demand. DA Davidson also maintained a Buy rating with a $465 price target. What’s going on with MongoDB stock
• Neutral Sentiment: Former CEO Dev Ittycheria was named interim chief executive while MongoDB searches for a permanent successor. His prior experience leading the company provides continuity, but the search timeline and long-term strategy remain important investor concerns. MongoDB stock drops after CEO exit
• Negative Sentiment: CEO Chirantan “CJ” Desai left immediately to lead Meta’s new enterprise platform. Investors are concerned about execution, strategy and the loss of an executive who knows MongoDB’s products and customers; Meta’s initiative could also become a direct competitor. MongoDB CEO Desai steps down to lead Meta’s enterprise platform
• Negative Sentiment: The selloff has intensified concerns about valuation. MongoDB trades at elevated earnings and sales multiples despite thin profitability, leaving limited room for execution setbacks or slower Atlas growth. Should you buy the dip in MongoDB stock

MongoDB Company Profile

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.