MongoDB (NASDAQ:MDB) Reaches New 12-Month High Following Analyst Upgrade

MongoDB, Inc. (NASDAQ:MDB)’s share price reached a new 52-week high during trading on Thursday after Royal Bank Of Canada raised their price target on the stock from $395.00 to $515.00. Royal Bank Of Canada currently has an outperform rating on the stock. MongoDB traded as high as $458.00 and last traded at $458.0150, with a volume of 208698 shares. The stock had previously closed at $437.83.

MDB has been the subject of a number of other reports. Wall Street Zen lowered shares of MongoDB from a “buy” rating to a “hold” rating in a research note on Sunday, July 26th. Tigress Financial lifted their price target on MongoDB from $430.00 to $515.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. Truist Financial boosted their price objective on MongoDB from $375.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Citizens Jmp reiterated a “market outperform” rating and set a $366.00 price objective on shares of MongoDB in a research report on Friday, May 29th. Finally, Barclays increased their price objective on MongoDB from $370.00 to $387.00 and gave the stock an “overweight” rating in a report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $414.23.

Insider Buying and Selling at MongoDB

In related news, Director Dwight A. Merriman sold 10,000 shares of MongoDB stock in a transaction dated 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 directly owned 983,316 shares of the company’s stock, valued at $348,005,365.56. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roelof Botha sold 44,050 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $398.07, for a total transaction of $17,534,983.50. Following the completion of the sale, the director owned 150,550 shares in the company, valued at approximately $59,929,438.50. This trade represents a 22.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 115,746 shares of company stock valued at $43,783,518. 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 made changes to their positions in MDB. Root Financial Partners LLC increased its holdings in MongoDB by 58.2% during the fourth quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock worth $37,000 after buying an additional 32 shares during the last quarter. Moody National Bank Trust Division lifted its stake in MongoDB by 3.1% in the second quarter. Moody National Bank Trust Division now owns 1,123 shares of the company’s stock valued at $377,000 after acquiring an additional 34 shares during the last quarter. HighPoint Advisor Group LLC grew its position in shares of MongoDB by 2.5% in the 4th quarter. HighPoint Advisor Group LLC now owns 1,491 shares of the company’s stock valued at $626,000 after acquiring an additional 36 shares during the period. Lido Advisors LLC grew its position in shares of MongoDB by 3.4% in the 4th quarter. Lido Advisors LLC now owns 1,092 shares of the company’s stock valued at $458,000 after acquiring an additional 36 shares during the period. Finally, Basecamp Wealth Advisors LLC increased its stake in shares of MongoDB by 14.3% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 287 shares of the company’s stock worth $70,000 after purchasing an additional 36 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

MongoDB Trading Up 5.1%

The firm’s 50 day moving average price is $344.44 and its two-hundred day moving average price is $316.06. The company has a market capitalization of $37.01 billion, a price-to-earnings ratio of -1,247.12, a price-to-earnings-growth ratio of 1,799.84 and a beta of 1.55.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Thursday, May 28th. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.13. The business had revenue of $687.62 million during the quarter, compared to analysts’ expectations of $664.53 million. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.MongoDB’s quarterly revenue was up 25.2% on a year-over-year basis. During the same quarter last year, the company 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. As a group, equities research analysts predict that MongoDB, Inc. will post 0.02 EPS for the current year.

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.