MongoDB (NASDAQ:MDB) Given Buy Rating at DA Davidson

MongoDB (NASDAQ:MDB)‘s stock had its “buy” rating reiterated by equities researchers at DA Davidson in a report issued on Tuesday, Benzinga reports. They currently have a $465.00 target price on the stock. DA Davidson’s price target would suggest a potential upside of 29.44% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Mizuho set a $460.00 price objective on shares of MongoDB in a report on Tuesday, September 29th. Scotiabank reissued an “outperform” rating on shares of MongoDB in a report on Wednesday, September 2nd. Monness Crespi & Hardt increased their price objective on shares of MongoDB from $460.00 to $500.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Wells Fargo & Company increased their price objective on shares of MongoDB from $375.00 to $475.00 and gave the company an “overweight” rating in a report on Tuesday, August 25th. Finally, Guggenheim restated a “buy” rating and issued a $560.00 price target on shares of MongoDB in a research report on Tuesday, September 29th. Two research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $462.59.

MongoDB Price Performance

Shares of NASDAQ:MDB traded up $1.27 during trading on Tuesday, hitting $359.23. 2,943,886 shares of the company’s stock were exchanged, compared to its average volume of 2,035,853. MongoDB has a 52-week low of $215.68 and a 52-week high of $473.10. The business’s 50-day simple moving average is $392.08 and its 200 day simple moving average is $334.26. The company has a market cap of $28.94 billion, a price-to-earnings ratio of 505.96, a PEG ratio of 38.46 and a beta of 1.74.

MongoDB (NASDAQ:MDB) last released its earnings results on Tuesday, September 1st. The company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $735.01 million. During the same quarter last year, the business posted $1.00 earnings per share. The firm’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, sell-side analysts anticipate that MongoDB will post 0.47 EPS for the current fiscal year.

Insider Activity at MongoDB

In other news, Director Hope Cochran sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $375.92, for a total transaction of $375,920.00. Following the transaction, the director owned 28,326 shares of the company’s stock, valued at approximately $10,648,309.92. The trade was a 3.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dwight Merriman sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $470.59, for a total value of $4,705,900.00. Following the transaction, the director directly owned 962,953 shares in the company, valued at approximately $453,156,052.27. This represents a 1.03% decrease in their position. 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. In the last three months, insiders have sold 17,000 shares of company stock worth $7,792,320. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Several large investors have recently modified their holdings of MDB. Capital World Investors increased its position in shares of MongoDB by 129.1% during the 4th quarter. Capital World Investors now owns 980,182 shares of the company’s stock valued at $411,373,000 after purchasing an additional 552,434 shares during the last quarter. Employees Provident Fund Board purchased a new position in shares of MongoDB during the fourth quarter valued at approximately $203,365,000. Polar Capital Holdings Plc boosted its position in shares of MongoDB by 730.6% during the fourth quarter. Polar Capital Holdings Plc now owns 431,207 shares of the company’s stock valued at $180,973,000 after buying an additional 379,289 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of MongoDB by 21.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,336,397 shares of the company’s stock valued at $560,872,000 after buying an additional 239,338 shares during the period. Finally, Sei Investments Co. boosted its position in shares of MongoDB by 125.3% during the first quarter. Sei Investments Co. now owns 367,663 shares of the company’s stock valued at $89,979,000 after buying an additional 204,446 shares during the period. Institutional investors own 89.29% of the company’s stock.

About MongoDB

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.