MongoDB (NASDAQ:MDB) Shares Break Above 50 Day Moving Average – What’s Next?

MongoDB, Inc. (NASDAQ:MDB) shares passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $387.09 and traded as high as $389.88. MongoDB shares last traded at $389.11, with a volume of 1,065,678 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MDB. Monness Crespi & Hardt upped their target price on MongoDB from $460.00 to $500.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. DA Davidson decreased their target price on MongoDB from $465.00 to $415.00 and set a “buy” rating on the stock in a research report on Wednesday, September 30th. Scotiabank reissued a “sector outperform” rating and issued a $450.00 price target (up from $440.00) on shares of MongoDB in a research note on Thursday, October 8th. UBS Group cut their price target on shares of MongoDB from $410.00 to $375.00 and set a “neutral” rating for the company in a report on Wednesday, September 30th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $540.00 price objective on shares of MongoDB in a research report on Friday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $461.91.

MongoDB Price Performance

The business has a fifty day simple moving average of $387.09 and a 200 day simple moving average of $339.86. The firm has a market cap of $31.35 billion, a price-to-earnings ratio of 548.04, a PEG ratio of 35.93 and a beta of 1.74.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Tuesday, September 1st. The company reported $1.90 earnings per share (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 firm had revenue of $771.77 million for the quarter, compared to analyst estimates of $735.01 million. During the same period in the previous year, the company posted $1.00 earnings per share. The business’s 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, research analysts anticipate that MongoDB, Inc. will post 0.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MongoDB news, Director Charles M. Hazard, Jr. sold 595 shares of the business’s stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $363.85, for a total transaction of $216,490.75. Following the transaction, the director owned 45,237 shares of the company’s stock, valued at approximately $16,459,482.45. The trade was a 1.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dwight A. Merriman sold 1,000 shares of the business’s stock in a transaction on Friday, October 9th. The stock was sold at an average price of $377.00, for a total value of $377,000.00. Following the transaction, the director directly owned 448,896 shares in the company, valued at $169,233,792. This trade represents a 0.22% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 32,595 shares of company stock valued at $13,465,211 over the last ninety days. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of MongoDB

A number of hedge funds and other institutional investors have recently modified their holdings of MDB. PensionDanmark Pensionsforsikringsaktieselskab grew its holdings in shares of 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 purchasing an additional 6,819 shares during the period. National Pension Service increased its position in MongoDB by 10.7% during the second quarter. National Pension Service now owns 153,687 shares of the company’s stock worth $51,623,000 after purchasing an additional 14,866 shares during the last quarter. Assenagon Asset Management S.A. increased its position in MongoDB by 19.9% during 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 last quarter. Daventry Group LP raised its stake in MongoDB by 21.3% during the first 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 period. Finally, MassMutual Private Wealth & Trust FSB raised its stake in MongoDB by 5,333.3% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 8,150 shares of the company’s stock worth $2,841,000 after purchasing an additional 8,000 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

MongoDB Company Profile

MongoDB, Inc develops and provides a modern database platform designed to help organizations build, deploy and scale applications. Its flagship technology is MongoDB, a document-oriented database that stores data in flexible, JSON-like documents and is intended to support a broad range of application development and data-management needs.

The company offers MongoDB Atlas, a fully managed cloud database service available across major cloud providers, as well as MongoDB Enterprise Advanced for organizations that run databases in their own data centers or in hybrid environments.