MongoDB (NASDAQ:MDB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of MongoDB (NASDAQ:MDB) from a hold rating to a buy rating in a research note published on Saturday morning.

A number of other research firms have also recently weighed in on MDB. DA Davidson restated a “buy” rating and set a $375.00 target price on shares of MongoDB in a research note on Friday, May 29th. Robert W. Baird raised their price target on MongoDB from $260.00 to $335.00 and gave the company a “neutral” rating in a report on Wednesday, May 20th. Oppenheimer boosted their price objective on MongoDB from $375.00 to $410.00 and gave the company an “outperform” rating in a research report on Friday, May 29th. BMO Capital Markets upped their price objective on MongoDB from $360.00 to $375.00 and gave the stock an “outperform” rating in a research note on Friday, May 29th. Finally, Bank of America increased their target price on MongoDB from $390.00 to $450.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $405.35.

MongoDB Trading Up 3.5%

MongoDB stock opened at $323.36 on Friday. MongoDB has a 12-month low of $198.47 and a 12-month high of $444.72. The firm has a market capitalization of $26.01 billion, a price-to-earnings ratio of -873.95, a P/E/G ratio of 1,126.44 and a beta of 1.55. The firm has a 50 day moving average of $337.09 and a 200 day moving average of $322.70.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Thursday, May 28th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.13. The business had revenue of $687.62 million for 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%. The company’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same quarter 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. On average, analysts predict that MongoDB will post 0.02 EPS for the current year.

Insiders Place Their Bets

In other news, Director Roelof Botha sold 44,050 shares of MongoDB stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $398.07, for a total value of $17,534,983.50. Following the sale, the director directly owned 150,550 shares of the company’s stock, valued at approximately $59,929,438.50. The trade was a 22.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Hope F. Cochran sold 1,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $350.00, for a total value of $350,000.00. Following the completion of the sale, the director owned 29,326 shares in the company, valued at $10,264,100. This represents a 3.30% 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. Over the last 90 days, insiders have sold 127,746 shares of company stock worth $47,343,538. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of MongoDB

A number of large investors have recently added to or reduced their stakes in MDB. Cornerstone Planning Group LLC grew its holdings in shares of MongoDB by 1,220.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock valued at $27,000 after purchasing an additional 61 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in MongoDB during the fourth quarter valued at $28,000. International Assets Investment Management LLC purchased a new stake in MongoDB during the fourth quarter valued at $33,000. Cassaday & Co Wealth Management LLC bought a new position in MongoDB during the first quarter valued at $34,000. Finally, CX Institutional lifted its position in MongoDB by 94.3% during the second quarter. CX Institutional now owns 103 shares of the company’s stock valued at $35,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

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.