MongoDB (NASDAQ:MDB) Shares Climb 6.1% – Here’s Why

Shares of MongoDB, Inc. (NASDAQ:MDB) traded up 6.1% during trading on Tuesday. The stock traded as high as $411.21 and last traded at $404.6130. Approximately 347,523 shares were traded during mid-day trading, a decline of 83% from the average session volume of 2,013,607 shares. The stock had previously closed at $381.29.

Analyst Ratings Changes

Several research firms have issued reports on MDB. DA Davidson dropped their price objective on MongoDB from $465.00 to $415.00 and set a “buy” rating for the company in a research note on Wednesday, September 30th. Rosenblatt Securities lifted their price objective on MongoDB from $395.00 to $445.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Robert W. Baird boosted their target price on shares of MongoDB from $335.00 to $400.00 and gave the company a “neutral” rating in a research note on Tuesday, August 25th. Cantor Fitzgerald restated an “overweight” rating and issued a $540.00 target price on shares of MongoDB in a research note on Friday, October 2nd. Finally, Zacks Research raised shares of MongoDB from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $462.91.

MongoDB Price Performance

The firm has a 50 day moving average price of $396.26 and a 200-day moving average price of $338.03. The firm has a market cap of $31.65 billion, a price-to-earnings ratio of 554.37, a price-to-earnings-growth ratio of 41.46 and a beta of 1.74.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Tuesday, September 1st. The company reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.28. The firm had revenue of $771.77 million during the quarter, compared to analyst estimates of $735.01 million. MongoDB had a return on equity of 1.06% and a net margin of 2.12%. The company’s revenue was up 30.5% on a year-over-year basis. During the same period last year, the company earned $1.00 earnings per share. MongoDB has set its Q3 2027 guidance at 1.570-1.610 EPS and its FY 2027 guidance at 6.390-6.580 EPS. On average, sell-side analysts expect that MongoDB, Inc. will post 0.47 EPS for the current fiscal year.

Insider Buying and Selling at MongoDB

In other news, Director Hope Cochran sold 1,000 shares of the firm’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $375.92, for a total value of $375,920.00. Following the transaction, the director owned 28,326 shares of the company’s stock, valued at approximately $10,648,309.92. This trade represents a 3.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dwight Merriman sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $470.59, for a total transaction of $4,705,900.00. Following the completion of the transaction, the director directly owned 962,953 shares in the company, valued at $453,156,052.27. This trade represents a 1.03% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 17,595 shares of company stock worth $8,008,811. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Large investors have recently bought and sold shares of the business. Smallwood Wealth Investment Management LLC bought a new stake in shares of MongoDB during the 2nd quarter valued at $34,000. NBH Bank acquired a new position in shares of MongoDB in the 2nd quarter valued at $34,000. CX Institutional boosted its position in shares of MongoDB by 94.3% in the 2nd quarter. CX Institutional now owns 103 shares of the company’s stock worth $35,000 after purchasing an additional 50 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in shares of MongoDB in the 1st quarter worth $34,000. Finally, Reflection Asset Management bought a new position in shares of MongoDB in the 4th quarter worth $66,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

About MongoDB

MongoDB, Inc develops and provides a general-purpose, document-oriented database platform. Its technology is designed to help organizations store, manage and analyze structured and unstructured data for applications such as artificial intelligence, analytics, mobile services, e-commerce and enterprise software.

The company’s principal offering is MongoDB Atlas, a fully managed cloud database service available across major cloud infrastructure providers. MongoDB also offers Enterprise Advanced, which provides commercial database software, security, operational controls and support for organizations running databases in their own environments or across hybrid and multicloud infrastructures.