MongoDB (NASDAQ:MDB) Upgraded by KGI Securities to Strong-Buy Rating

MongoDB (NASDAQ:MDB) was upgraded by investment analysts at KGI Securities to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Cantor Fitzgerald raised their target price on shares of MongoDB from $378.00 to $416.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Guggenheim reiterated a “buy” rating and issued a $475.00 price target on shares of MongoDB in a research note on Friday, May 29th. UBS Group increased their price objective on shares of MongoDB from $275.00 to $350.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Zacks Research upgraded MongoDB from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Finally, Citizens Jmp reaffirmed a “market outperform” rating and issued a $366.00 target price on shares of MongoDB in a report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, MongoDB has an average rating of “Moderate Buy” and a consensus target price of $400.41.

MongoDB Trading Down 5.7%

NASDAQ MDB opened at $342.08 on Wednesday. MongoDB has a 12 month low of $198.47 and a 12 month high of $444.72. The stock has a market cap of $27.51 billion, a PE ratio of -924.54, a P/E/G ratio of 1,308.71 and a beta of 1.55. The stock’s 50 day moving average is $330.89 and its 200 day moving average is $327.77.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Thursday, May 28th. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.13. The business had revenue of $687.62 million during the quarter, compared to analyst estimates of $664.53 million. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. The company’s revenue was up 25.2% on a year-over-year basis. During the same period last year, the firm posted $1.00 EPS. MongoDB has set its FY 2027 guidance at 5.950-6.140 EPS and its Q2 2027 guidance at 1.580-1.610 EPS. On average, analysts forecast that MongoDB will post 0.02 EPS for the current fiscal year.

Insider Buying and Selling at MongoDB

In other news, Director Dev Ittycheria sold 40,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $383.16, for a total value of $15,326,400.00. Following the sale, the director directly owned 161,762 shares in the company, valued at $61,980,727.92. The trade was a 19.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Roelof Botha sold 44,050 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $398.07, for a total transaction of $17,534,983.50. Following the sale, the director owned 150,550 shares in the company, valued at $59,929,438.50. This represents a 22.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 139,746 shares of company stock worth $50,247,978 over the last three months. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Clark Financial Services Group Inc. BD increased its stake in MongoDB by 1.5% during the fourth quarter. Clark Financial Services Group Inc. BD now owns 1,669 shares of the company’s stock worth $702,000 after acquiring an additional 25 shares during the last quarter. Root Financial Partners LLC lifted its stake in shares of MongoDB by 58.2% in the 4th quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock valued at $37,000 after purchasing an additional 32 shares during the last quarter. Moody National Bank Trust Division boosted its holdings in shares of MongoDB by 3.1% in the 2nd quarter. Moody National Bank Trust Division now owns 1,123 shares of the company’s stock worth $377,000 after purchasing an additional 34 shares during the period. True Wealth Design LLC boosted its holdings in shares of MongoDB by 9.4% in the 4th quarter. True Wealth Design LLC now owns 419 shares of the company’s stock worth $176,000 after purchasing an additional 36 shares during the period. Finally, HighPoint Advisor Group LLC boosted its holdings in shares of MongoDB by 2.5% in the 4th quarter. HighPoint Advisor Group LLC now owns 1,491 shares of the company’s stock worth $626,000 after purchasing an additional 36 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Company Profile

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.