Needham & Company LLC Reaffirms “Buy” Rating for MongoDB (NASDAQ:MDB)

MongoDB (NASDAQ:MDB)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a report issued on Wednesday, Benzinga reports. They presently have a $430.00 price target on the stock. Needham & Company LLC’s price objective suggests a potential upside of 19.84% from the stock’s current price.

A number of other analysts have also weighed in on MDB. KGI Securities began coverage on MongoDB in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $470.00 target price for the company. Wall Street Zen raised shares of MongoDB from a “hold” rating to a “buy” rating in a report on Saturday, September 5th. Tigress Financial raised their price objective on shares of MongoDB from $430.00 to $515.00 and gave the company a “buy” rating in a research report on Tuesday, June 2nd. DA Davidson reiterated a “buy” rating and set a $465.00 target price on shares of MongoDB in a research report on Tuesday, September 29th. Finally, Sanford C. Bernstein increased their price target on shares of MongoDB from $449.00 to $484.00 and gave the company an “outperform” rating in a research note on Wednesday, September 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, MongoDB 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 $0.86 during trading on Wednesday, reaching $358.82. The stock had a trading volume of 1,951,130 shares, compared to its average volume of 2,030,024. MongoDB has a 52 week low of $215.68 and a 52 week high of $473.10. The business’s 50-day moving average price is $391.09 and its 200 day moving average price is $333.65. The stock has a market capitalization of $28.91 billion, a PE ratio of 505.95, a P/E/G ratio of 38.46 and a beta of 1.74.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results 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 business had revenue of $771.77 million for the quarter, compared to analyst estimates of $735.01 million. During the same period in the prior year, the company earned $1.00 EPS. MongoDB’s revenue for the quarter 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. Analysts forecast that MongoDB will post 0.47 EPS for the current year.

Insider Activity at MongoDB

In related news, Director Hope Cochran sold 1,000 shares of the business’s stock in a transaction that occurred 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 $10,648,309.92. The trade was a 3.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dwight Merriman sold 6,000 shares of the stock in a transaction that occurred 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 transaction, the director owned 452,896 shares in the company, valued at $204,595,768. This represents a 1.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 17,000 shares of company stock valued at $7,792,320. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

Hedge funds have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership boosted its holdings in MongoDB by 21.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,336,397 shares of the company’s stock worth $560,872,000 after buying an additional 239,338 shares during the last quarter. Capital World Investors increased its stake in shares of MongoDB by 129.1% in the 4th 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 raised its position in shares of MongoDB by 7.3% in the 4th 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 period. Bank of America Corp DE boosted its stake in MongoDB by 0.3% during the 1st quarter. Bank of America Corp DE now owns 555,305 shares of the company’s stock worth $135,922,000 after acquiring an additional 1,852 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in MongoDB by 55.0% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 549,970 shares of the company’s stock worth $134,616,000 after acquiring an additional 195,250 shares during the last quarter. Institutional investors and hedge funds 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.