Citizens Jmp Increases MongoDB (NASDAQ:MDB) Price Target to $519.00

MongoDB (NASDAQ:MDB) had its price objective upped by equities research analysts at Citizens Jmp from $366.00 to $519.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. Citizens Jmp’s target price suggests a potential upside of 21.27% from the company’s previous close.

MDB has been the topic of several other reports. Oppenheimer increased their target price on shares of MongoDB from $410.00 to $475.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Needham & Company LLC boosted their price target on MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Tigress Financial boosted their price target on MongoDB from $430.00 to $515.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Piper Sandler upped their price target on MongoDB from $330.00 to $400.00 and gave the stock an “overweight” rating in a research note on Friday, May 29th. Finally, KGI Securities began coverage on MongoDB in a report on Wednesday, July 8th. They set an “outperform” rating and a $470.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $427.48.

MongoDB Stock Down 1.5%

MDB stock opened at $427.96 on Wednesday. The company has a market capitalization of $34.42 billion, a price-to-earnings ratio of -1,155.21, a P/E/G ratio of 3,270.10 and a beta of 1.55. MongoDB has a 12 month low of $206.92 and a 12 month high of $473.10. The firm has a 50 day moving average of $352.08 and a two-hundred day moving average of $317.28.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Thursday, May 28th. The company reported $1.32 EPS for the quarter, topping the consensus estimate of $1.19 by $0.13. The company had revenue of $687.62 million for 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%. MongoDB’s quarterly revenue was up 25.2% on a year-over-year basis. During the same quarter in the prior year, the business 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, research analysts expect that MongoDB will post 0.01 EPS for the current fiscal year.

Insider Activity

In other news, Director Dev Ittycheria sold 40,000 shares of MongoDB stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $383.16, for a total value of $15,326,400.00. Following the transaction, the director directly owned 161,762 shares in the company, valued at approximately $61,980,727.92. The trade was a 19.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Hope F. Cochran sold 1,566 shares of MongoDB stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $344.05, for a total value of $538,782.30. Following the completion of the transaction, the director owned 25,444 shares in the company, valued at $8,754,008.20. The trade was a 5.80% 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. Over the last 90 days, insiders have sold 125,746 shares of company stock worth $49,310,038. Insiders own 2.60% of the company’s stock.

Institutional Trading of MongoDB

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harel Insurance Investments & Financial Services Ltd. increased its stake in MongoDB by 115.1% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 354,720 shares of the company’s stock valued at $148,872,000 after acquiring an additional 189,820 shares during the period. Fiera Capital Corp raised its position in MongoDB by 33.6% in the fourth quarter. Fiera Capital Corp now owns 183,035 shares of the company’s stock worth $76,818,000 after purchasing an additional 46,051 shares in the last quarter. M&T Bank Corp lifted its stake in MongoDB by 12,467.7% during the fourth quarter. M&T Bank Corp now owns 323,744 shares of the company’s stock worth $135,872,000 after purchasing an additional 321,168 shares during the period. Virtus Wealth Solutions LLC lifted its stake in MongoDB by 288.3% during the fourth quarter. Virtus Wealth Solutions LLC now owns 6,854 shares of the company’s stock worth $2,877,000 after purchasing an additional 5,089 shares during the period. Finally, Danica Pension Livsforsikringsaktieselskab acquired a new stake in MongoDB during the fourth quarter valued at approximately $107,100,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

About MongoDB

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.