MongoDB (NASDAQ:MDB) Downgraded by Wall Street Zen to “Hold”

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

Other equities research analysts have also issued research reports about the company. Royal Bank Of Canada reissued an “outperform” rating and set a $395.00 target price on shares of MongoDB in a research report on Tuesday, May 19th. BMO Capital Markets upped their price target on MongoDB from $360.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Citizens Jmp reiterated a “market outperform” rating and issued a $366.00 price target on shares of MongoDB in a research note on Friday, May 29th. Needham & Company LLC raised their price objective on shares of MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Finally, Wedbush boosted their price objective on shares of MongoDB from $380.00 to $390.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $405.35.

MongoDB Price Performance

NASDAQ:MDB opened at $298.22 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 $23.99 billion, a PE ratio of -806.00, a price-to-earnings-growth ratio of 1,222.21 and a beta of 1.55. The business’s fifty day moving average price is $336.75 and its 200 day moving average price is $319.53.

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

Insider Transactions at MongoDB

In related news, Director Dwight A. Merriman sold 1,130 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $334.25, for a total transaction of $377,702.50. Following the transaction, the director owned 982,953 shares in the company, valued at $328,552,040.25. This trade represents a 0.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dev Ittycheria sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $383.16, for a total value of $15,326,400.00. Following the transaction, the director owned 161,762 shares in the company, valued at $61,980,727.92. This represents a 19.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 127,746 shares of company stock worth $47,343,538. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Hedge funds have recently modified their holdings of the business. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of MongoDB by 115.1% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 354,720 shares of the company’s stock worth $148,872,000 after buying an additional 189,820 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in shares of MongoDB by 69.6% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 345,563 shares of the company’s stock worth $145,029,000 after buying an additional 141,755 shares during the last quarter. Fiera Capital Corp grew its holdings in shares of MongoDB by 33.6% during the fourth quarter. Fiera Capital Corp now owns 183,035 shares of the company’s stock worth $76,818,000 after buying an additional 46,051 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in MongoDB by 611.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 715,100 shares of the company’s stock valued at $300,120,000 after acquiring an additional 614,559 shares during the period. Finally, M&T Bank Corp increased its position in MongoDB by 12,467.7% in the 4th quarter. M&T Bank Corp now owns 323,744 shares of the company’s stock valued at $135,872,000 after acquiring an additional 321,168 shares during the period. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

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.