MongoDB (NASDAQ:MDB) Given New $465.00 Price Target at DA Davidson

MongoDB (NASDAQ:MDB) had its price target increased by equities research analysts at DA Davidson from $375.00 to $465.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. DA Davidson’s target price would suggest a potential upside of 14.95% from the company’s current price.

A number of other equities research analysts have also recently commented on MDB. Royal Bank Of Canada increased their target price on MongoDB from $395.00 to $515.00 and gave the company an “outperform” rating in a report on Thursday, August 13th. Monness Crespi & Hardt boosted their price target on MongoDB from $370.00 to $415.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Cantor Fitzgerald upped their price objective on MongoDB from $378.00 to $416.00 and gave the company an “overweight” rating in a research report on Tuesday, May 26th. UBS Group increased their price objective on MongoDB from $350.00 to $460.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Zacks Research upgraded MongoDB from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $449.97.

MongoDB Price Performance

Shares of NASDAQ MDB traded down $0.39 on Wednesday, hitting $404.53. The company’s stock had a trading volume of 198,863 shares, compared to its average volume of 1,851,572. The stock has a 50 day moving average of $359.10 and a 200-day moving average of $319.38. The company has a market capitalization of $32.54 billion, a price-to-earnings ratio of -1,091.87, a price-to-earnings-growth ratio of 2,860.64 and a beta of 1.55. MongoDB has a 12-month low of $215.68 and a 12-month high of $473.10.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Thursday, May 28th. The company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.13. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. The business had revenue of $687.62 million during the quarter, compared to analysts’ expectations of $664.53 million. During the same period last year, the company posted $1.00 EPS. The company’s revenue was up 25.2% on a year-over-year basis. MongoDB has set its FY 2027 guidance at 5.950-6.140 EPS and its Q2 2027 guidance at 1.580-1.610 EPS. Sell-side analysts expect that MongoDB will post 0.01 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Dev Ittycheria sold 40,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $383.16, for a total transaction of $15,326,400.00. Following the sale, the director owned 161,762 shares in the company, valued at $61,980,727.92. This trade represents a 19.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dwight A. Merriman sold 10,000 shares of MongoDB stock in a transaction on Friday, June 12th. The shares were sold at an average price of $353.91, for a total value of $3,539,100.00. Following the completion of the sale, the director directly owned 983,316 shares of the company’s stock, valued at approximately $348,005,365.56. This represents a 1.01% 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 sold a total of 125,746 shares of company stock worth $49,310,038 in the last three months. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MongoDB

Several large investors have recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. raised its holdings in MongoDB by 115.1% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 354,720 shares of the company’s stock valued at $148,872,000 after buying an additional 189,820 shares during the period. Fiera Capital Corp grew its stake in 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 period. Danica Pension Livsforsikringsaktieselskab purchased a new stake in MongoDB during the fourth quarter worth approximately $107,100,000. PensionDanmark Pensionsforsikringsaktieselskab increased its position in shares of MongoDB by 48.7% in the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 20,810 shares of the company’s stock worth $6,990,000 after acquiring an additional 6,819 shares in the last quarter. Finally, Bluebird Wealth Management LLC acquired a new stake in shares of MongoDB in the fourth quarter worth $1,802,000. 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.