MongoDB (NASDAQ:MDB) Earns “Market Outperform” Rating from Citizens Jmp

MongoDB (NASDAQ:MDB)‘s stock had its “market outperform” rating reiterated by equities research analysts at Citizens Jmp in a note issued to investors on Wednesday, Benzinga reports. They presently have a $519.00 price target on the stock. Citizens Jmp’s target price indicates a potential upside of 47.56% from the stock’s current price.

Several other equities analysts have also recently commented on the stock. Canaccord Genuity Group raised their price target on shares of MongoDB from $400.00 to $480.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Guggenheim reissued a “buy” rating and issued a $560.00 price target on shares of MongoDB in a research report on Tuesday. Scotiabank reissued an “outperform” rating on shares of MongoDB in a research report on Wednesday, September 2nd. Wall Street Zen raised shares of MongoDB from a “hold” rating to a “buy” rating in a research report on Saturday, September 5th. Finally, Robert W. Baird raised their price target on shares of MongoDB from $335.00 to $400.00 and gave the company a “neutral” rating in a research report on Tuesday, August 25th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $462.59.

MongoDB Stock Up 0.9%

Shares of MDB stock opened at $351.73 on Wednesday. MongoDB has a 52 week low of $215.68 and a 52 week high of $473.10. The stock has a market capitalization of $28.34 billion, a PE ratio of 495.39, a P/E/G ratio of 37.45 and a beta of 1.75. The firm has a 50 day moving average of $389.89 and a two-hundred day moving average of $333.01.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Tuesday, September 1st. The company reported $1.90 EPS 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 company had revenue of $771.77 million during the quarter, compared to analysts’ expectations of $735.01 million. During the same quarter last year, the company posted $1.00 EPS. The firm’s 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. Analysts expect that MongoDB will post 0.47 EPS for the current fiscal year.

Insider Buying and Selling at MongoDB

In other news, Director Dwight A. Merriman sold 6,000 shares of MongoDB stock in a transaction on Monday, August 17th. The shares were sold at an average price of $451.75, for a total transaction of $2,710,500.00. Following the completion of the sale, the director directly owned 452,896 shares of the company’s stock, valued at approximately $204,595,768. The trade was a 1.31% decrease in their position. The transaction was disclosed in a document filed 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 F. Cochran sold 1,000 shares of the business’s stock in a transaction on 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 directly owned 28,326 shares of the company’s stock, valued at approximately $10,648,309.92. This trade 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. Over the last ninety days, insiders have sold 17,000 shares of company stock valued at $7,792,320. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Institutional investors and hedge funds have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership lifted its position in MongoDB by 21.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,336,397 shares of the company’s stock valued at $560,872,000 after acquiring an additional 239,338 shares during the last quarter. Capital World Investors lifted its position in MongoDB by 129.1% in the fourth quarter. Capital World Investors now owns 980,182 shares of the company’s stock valued at $411,373,000 after acquiring an additional 552,434 shares during the last quarter. Fred Alger Management LLC lifted its position in MongoDB by 7.3% in the fourth quarter. Fred Alger Management LLC now owns 561,614 shares of the company’s stock valued at $235,704,000 after acquiring an additional 38,225 shares during the last quarter. Employees Provident Fund Board purchased a new stake in MongoDB in the fourth quarter valued at $203,365,000. Finally, Polar Capital Holdings Plc lifted its position in MongoDB by 730.6% in the fourth quarter. Polar Capital Holdings Plc now owns 431,207 shares of the company’s stock valued at $180,973,000 after acquiring an additional 379,289 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

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.