Needham & Company LLC Raises MongoDB (NASDAQ:MDB) Price Target to $430.00

MongoDB (NASDAQ:MDB) had its target price upped by analysts at Needham & Company LLC from $400.00 to $430.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 18.50% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the company. Truist Financial boosted their price target on MongoDB from $375.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday. BMO Capital Markets boosted their price target on shares of MongoDB from $360.00 to $375.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Wall Street Zen cut shares of MongoDB from a “buy” rating to a “hold” rating in a research report on Sunday, June 7th. Cantor Fitzgerald raised their price target on shares of MongoDB from $378.00 to $416.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 26th. Finally, Scotiabank reissued an “outperform” rating on shares of MongoDB in a report on Friday, May 29th. Twenty-eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, MongoDB presently has an average rating of “Moderate Buy” and an average target price of $400.41.

MongoDB Stock Performance

MDB stock opened at $362.87 on Friday. MongoDB has a 52-week low of $198.47 and a 52-week high of $444.72. The firm has a 50 day moving average price of $329.22 and a 200-day moving average price of $327.67. The firm has a market capitalization of $29.19 billion, a price-to-earnings ratio of -980.73, a PEG ratio of 1,296.20 and a beta of 1.55.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Thursday, May 28th. The company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.13. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. The company had revenue of $687.62 million for the quarter, compared to analysts’ expectations of $664.53 million. During the same quarter in the previous year, the business posted $1.00 EPS. MongoDB’s revenue was up 25.2% compared to the same quarter last year. 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, sell-side analysts forecast that MongoDB will post 0.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Roelof Botha sold 44,050 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $398.07, for a total value of $17,534,983.50. Following the completion of the transaction, the director owned 150,550 shares of the company’s stock, valued at approximately $59,929,438.50. This represents a 22.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dwight A. Merriman sold 10,000 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $353.91, for a total transaction of $3,539,100.00. Following the transaction, the director owned 983,316 shares of the company’s stock, valued at $348,005,365.56. This represents a 1.01% 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. Over the last 90 days, insiders have sold 139,746 shares of company stock worth $50,247,978. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of MongoDB

A number of hedge funds have recently bought and sold shares of MDB. Cornerstone Planning Group LLC increased its position in MongoDB by 1,220.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock worth $27,000 after purchasing an additional 61 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in MongoDB during the 4th quarter worth about $28,000. International Assets Investment Management LLC acquired a new stake in shares of MongoDB in the 4th quarter valued at $33,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of MongoDB during the 1st quarter worth about $34,000. Finally, CX Institutional raised its stake in MongoDB by 94.3% during the 2nd quarter. CX Institutional now owns 103 shares of the company’s stock worth $35,000 after acquiring an additional 50 shares in the last quarter. Institutional investors and hedge funds 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.