MongoDB (NASDAQ:MDB) Stock Price Expected to Rise, Robert W. Baird Analyst Says

MongoDB (NASDAQ:MDB) had its price objective increased by investment analysts at Robert W. Baird from $335.00 to $400.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s target price would indicate a potential downside of 0.67% from the stock’s previous close.

Several other analysts have also weighed in on the stock. Piper Sandler boosted their target price on shares of MongoDB from $330.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Guggenheim raised their price target on shares of MongoDB from $475.00 to $560.00 and gave the stock a “buy” rating in a research report on Tuesday, August 18th. Mizuho lifted their price target on shares of MongoDB from $325.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Zacks Research raised shares of MongoDB from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $385.00 price objective on shares of MongoDB in a research note on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $441.75.

MongoDB Trading Down 6.5%

MongoDB stock opened at $402.69 on Tuesday. MongoDB has a 52 week low of $212.31 and a 52 week high of $473.10. The stock has a market cap of $32.39 billion, a P/E ratio of -1,088.35, a price-to-earnings-growth ratio of 3,060.54 and a beta of 1.55. The stock has a 50 day moving average of $357.98 and a 200-day moving average of $318.91.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Thursday, May 28th. The company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.13. The firm had revenue of $687.62 million for the quarter, compared to the consensus estimate of $664.53 million. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. The firm’s revenue was up 25.2% compared to the same quarter last year. During the same period in the prior 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. As a group, equities analysts predict that MongoDB will post 0.01 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Michael J. Berry sold 5,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $356.63, for a total value of $1,783,150.00. Following the completion of the transaction, the chief financial officer owned 1,500 shares of the company’s stock, valued at approximately $534,945. This represents a 76.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dev Ittycheria sold 40,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the director directly owned 161,762 shares of the company’s stock, valued at $61,980,727.92. The trade was a 19.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 125,746 shares of company stock worth $49,310,038 over the last ninety days. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of MongoDB

Hedge funds and other institutional investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC grew its holdings in MongoDB by 31.6% during the first quarter. Integrated Wealth Concepts LLC now owns 1,363 shares of the company’s stock worth $239,000 after acquiring an additional 327 shares during the period. NewEdge Advisors LLC lifted its holdings in MongoDB by 55.0% in the 1st quarter. NewEdge Advisors LLC now owns 4,238 shares of the company’s stock valued at $743,000 after acquiring an additional 1,504 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of MongoDB during the 2nd quarter valued at about $329,000. Cresset Asset Management LLC boosted its position in shares of MongoDB by 13.4% during the 2nd quarter. Cresset Asset Management LLC now owns 3,138 shares of the company’s stock valued at $659,000 after purchasing an additional 370 shares in the last quarter. Finally, Cerity Partners LLC grew its stake in shares of MongoDB by 28.3% in the 2nd quarter. Cerity Partners LLC now owns 12,215 shares of the company’s stock worth $2,565,000 after purchasing an additional 2,697 shares during the last quarter. 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.