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

MongoDB (NASDAQ:MDB)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a note issued to investors on Tuesday, Benzinga reports. They currently have a $430.00 target price on the stock. Needham & Company LLC’s target price points to a potential upside of 21.45% from the company’s current price.

Other research analysts also recently issued research reports about the company. BMO Capital Markets decreased their price objective on MongoDB from $450.00 to $420.00 and set an “outperform” rating on the stock in a report on Wednesday, September 30th. William Blair restated an “outperform” rating on shares of MongoDB in a report on Monday, September 28th. Evercore restated an “outperform” rating on shares of MongoDB in a report on Thursday, September 24th. Monness Crespi & Hardt raised their price target on MongoDB from $460.00 to $500.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Finally, UBS Group decreased their price target on MongoDB from $410.00 to $375.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 30th. Two investment 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $462.91.

MongoDB Trading Down 0.6%

MDB opened at $354.07 on Tuesday. The stock has a market capitalization of $28.52 billion, a P/E ratio of 495.71, a PEG ratio of 40.08 and a beta of 1.74. The stock has a 50-day moving average price of $395.72 and a 200-day moving average price of $339.73. MongoDB has a 12-month low of $215.68 and a 12-month high of $473.10.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Tuesday, September 1st. The company reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.28. MongoDB had a net margin of 2.12% and a return on equity of 1.06%. The firm had revenue of $771.77 million during the quarter, compared to analyst estimates of $735.01 million. During the same period in the previous year, the business posted $1.00 EPS. The business’s quarterly 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, equities research analysts predict that MongoDB will post 0.47 EPS for the current year.

Insider Activity

In related news, Director Hope Cochran sold 1,000 shares of the business’s stock in a transaction dated Thursday, September 17th. The shares were 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 in the company, valued at $10,648,309.92. The trade was a 3.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Charles Hazard, Jr. sold 595 shares of the firm’s stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $363.85, for a total transaction of $216,490.75. Following the completion of the sale, the director owned 45,237 shares of the company’s stock, valued at $16,459,482.45. This trade represents a 1.30% 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 90 days, insiders have sold 31,595 shares of company stock valued at $13,065,211. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of MongoDB

A number of hedge funds and other institutional investors have recently modified their holdings of MDB. Mainsail Asset Management LLC bought a new stake in MongoDB in the 3rd quarter worth approximately $203,000. B. Riley Wealth Advisors Inc. increased its position in MongoDB by 19.9% during the third quarter. B. Riley Wealth Advisors Inc. now owns 800 shares of the company’s stock valued at $279,000 after acquiring an additional 133 shares during the last quarter. Krilogy Financial LLC lifted its holdings in MongoDB by 11.4% in the third quarter. Krilogy Financial LLC now owns 3,594 shares of the company’s stock valued at $1,370,000 after acquiring an additional 369 shares during the period. Sax Wealth Advisors LLC purchased a new position in MongoDB in the third quarter worth about $812,000. Finally, NorthCrest Asset Manangement LLC boosted its position in MongoDB by 43.1% in the third quarter. NorthCrest Asset Manangement LLC now owns 2,902 shares of the company’s stock worth $1,078,000 after purchasing an additional 874 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

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.