MongoDB (NASDAQ:MDB) Stock Price Expected to Rise, Truist Financial Analyst Says

MongoDB (NASDAQ:MDB) had its price target upped by equities researchers at Truist Financial from $375.00 to $400.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 9.94% from the stock’s current price.

Several other research firms have also recently commented on MDB. Citigroup reaffirmed a “buy” rating on shares of MongoDB in a research report on Monday, June 8th. Bank of America boosted their price target on shares of MongoDB from $390.00 to $450.00 and gave the company a “buy” rating in a research report on Monday, June 8th. Rosenblatt Securities reissued a “buy” rating and issued a $385.00 price target on shares of MongoDB in a research note on Tuesday, May 26th. Oppenheimer raised their price objective on shares of MongoDB from $375.00 to $410.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. Finally, Guggenheim reaffirmed a “buy” rating and set a $475.00 price objective on shares of MongoDB in a research report on Friday, May 29th. Twenty-eight equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and an average target price of $399.47.

MongoDB Stock Performance

MDB opened at $363.85 on Thursday. The stock has a market capitalization of $29.26 billion, a PE ratio of -972.76, a price-to-earnings-growth ratio of 1,303.12 and a beta of 1.55. The stock’s 50 day moving average price is $327.12 and its 200-day moving average price is $328.14. MongoDB has a 52-week low of $198.47 and a 52-week high of $444.72.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Thursday, May 28th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.13. The business had revenue of $687.62 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 25.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.00 earnings per share. MongoDB has set its FY 2027 guidance at 5.950-6.140 EPS and its Q2 2027 guidance at 1.580-1.610 EPS. Research analysts forecast that MongoDB will post 0.02 EPS for the current fiscal year.

Insider Buying and Selling at MongoDB

In other MongoDB news, CFO Michael J. Berry sold 5,000 shares of MongoDB stock in a transaction on Monday, June 15th. The stock was sold at an average price of $356.63, for a total transaction of $1,783,150.00. Following the completion of the transaction, the chief financial officer owned 1,500 shares in the company, valued at approximately $534,945. The trade was a 76.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dwight A. Merriman sold 10,000 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $353.91, for a total value of $3,539,100.00. Following the completion of the sale, the director directly owned 983,316 shares in the company, valued at $348,005,365.56. This trade represents a 1.01% decrease in their ownership of the stock. 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. Insiders have sold a total of 139,746 shares of company stock valued at $50,247,978 over the last ninety days. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

A number of hedge funds have recently added to or reduced their stakes in the company. PensionDanmark Pensionsforsikringsaktieselskab increased its holdings in shares of MongoDB by 48.7% in the 2nd quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 20,810 shares of the company’s stock worth $6,990,000 after purchasing an additional 6,819 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of MongoDB by 19.9% during the second quarter. Assenagon Asset Management S.A. now owns 128,080 shares of the company’s stock valued at $43,022,000 after buying an additional 21,273 shares during the last quarter. David J Yvars Group purchased a new stake in shares of MongoDB during the second quarter valued at $228,000. GAMMA Investing LLC increased its holdings in MongoDB by 69.7% in the 2nd quarter. GAMMA Investing LLC now owns 414 shares of the company’s stock worth $139,000 after buying an additional 170 shares in the last quarter. Finally, Moody National Bank Trust Division increased its holdings in 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 buying an additional 34 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

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.