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 report released on Saturday,Wall Street Zen reports.

Other research analysts have also recently issued reports about the company. Wedbush raised their target price on MongoDB from $380.00 to $390.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. KGI Securities started coverage on shares of MongoDB in a report on Wednesday, July 8th. They issued an “outperform” rating and a $470.00 price target on the stock. BMO Capital Markets dropped their price objective on shares of MongoDB from $500.00 to $450.00 and set an “outperform” rating for the company in a research note on Wednesday, September 2nd. Rosenblatt Securities raised their price objective on shares of MongoDB from $395.00 to $445.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Finally, The Goldman Sachs Group lifted their target price on shares of MongoDB from $453.00 to $520.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, MongoDB presently has a consensus rating of “Moderate Buy” and an average target price of $471.81.

MongoDB Price Performance

MDB stock opened at $368.74 on Friday. MongoDB has a twelve month low of $215.68 and a twelve month high of $473.10. The company has a market cap of $29.66 billion, a PE ratio of 519.35, a price-to-earnings-growth ratio of 38.75 and a beta of 1.58. The business’s 50-day simple moving average is $374.88 and its 200 day simple moving average is $322.61.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Tuesday, September 1st. The company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.28. MongoDB had a return on equity of 1.06% and a net margin of 2.12%.The company had revenue of $771.77 million during the quarter, compared to the consensus estimate of $735.01 million. During the same quarter last year, the company earned $1.00 EPS. The company’s quarterly revenue was up 30.5% on a year-over-year basis. MongoDB has set its Q3 2027 guidance at 1.570-1.610 EPS and its FY 2027 guidance at 6.390-6.580 EPS. On average, equities research analysts anticipate that MongoDB will post 0.48 EPS for the current year.

Insider Buying and Selling at MongoDB

In related news, Director Dwight A. Merriman sold 10,000 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $353.91, for a total transaction of $3,539,100.00. Following the completion of the sale, the director owned 983,316 shares in the company, valued at $348,005,365.56. This trade represents a 1.01% decrease in their position. The sale was disclosed in a document filed 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 Hope F. Cochran sold 1,566 shares of MongoDB stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $344.05, for a total transaction of $538,782.30. Following the transaction, the director directly owned 25,444 shares of the company’s stock, valued at $8,754,008.20. This represents a 5.80% 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 three months, insiders sold 40,696 shares of company stock valued at $16,098,655. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of MongoDB

Several hedge funds have recently modified their holdings of MDB. Fiera Capital Corp lifted its stake in shares of MongoDB by 33.6% during the fourth quarter. Fiera Capital Corp now owns 183,035 shares of the company’s stock valued at $76,818,000 after acquiring an additional 46,051 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab boosted its holdings in MongoDB by 48.7% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 20,810 shares of the company’s stock valued at $6,990,000 after acquiring an additional 6,819 shares during the last quarter. Assenagon Asset Management S.A. increased its position in MongoDB by 19.9% in the second quarter. Assenagon Asset Management S.A. now owns 128,080 shares of the company’s stock worth $43,022,000 after purchasing an additional 21,273 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in MongoDB by 16.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 88,298 shares of the company’s stock worth $35,288,000 after purchasing an additional 12,304 shares during the period. Finally, Daventry Group LP raised its holdings in MongoDB by 21.3% during the 1st quarter. Daventry Group LP now owns 82,105 shares of the company’s stock worth $20,097,000 after purchasing an additional 14,412 shares during the last quarter. Institutional investors and hedge funds 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.