MongoDB (NASDAQ:MDB) Receives “Outperform” Rating from Royal Bank Of Canada

MongoDB (NASDAQ:MDB)‘s stock had its “outperform” rating reiterated by Royal Bank Of Canada in a research note issued on Tuesday,Benzinga reports. They presently have a $395.00 price target on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 14.49% from the stock’s previous close.

A number of other research firms have also issued reports on MDB. Mizuho raised MongoDB from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $290.00 to $325.00 in a report on Monday, March 23rd. Barclays decreased their price objective on MongoDB from $440.00 to $370.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. Bank of America lifted their target price on MongoDB from $350.00 to $375.00 in a research note on Tuesday. Weiss Ratings lowered MongoDB from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, April 29th. Finally, Canaccord Genuity Group decreased their price target on MongoDB from $455.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Twenty-six equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $365.03.

MongoDB Stock Up 4.5%

NASDAQ:MDB traded up $15.00 during trading hours on Tuesday, reaching $345.00. 203,885 shares of the company’s stock were exchanged, compared to its average volume of 1,806,257. The firm has a market capitalization of $27.73 billion, a price-to-earnings ratio of -394.26 and a beta of 1.48. The company has a 50-day moving average of $263.75 and a 200 day moving average of $335.69. MongoDB has a 1-year low of $182.43 and a 1-year high of $444.72.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.18. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The company had revenue of $695.07 million for the quarter, compared to the consensus estimate of $669.40 million. During the same period last year, the firm posted $1.28 EPS. MongoDB’s revenue for the quarter was up 26.8% on a year-over-year basis. Research analysts forecast that MongoDB will post -0.46 EPS for the current fiscal year.

Insider Activity

In related news, Director Hope F. Cochran sold 1,566 shares of the business’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total transaction of $390,450.78. Following the sale, the director owned 24,093 shares of the company’s stock, valued at approximately $6,007,107.69. The trade was a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Dwight A. Merriman sold 6,000 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $314.98, for a total transaction of $1,889,880.00. Following the transaction, the director owned 470,896 shares in the company, valued at $148,322,822.08. The trade was a 1.26% 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 sold 31,566 shares of company stock valued at $8,744,791 in the last quarter. Company insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On MongoDB

A number of institutional investors and hedge funds have recently modified their holdings of MDB. Centaurus Financial Inc. raised its holdings in MongoDB by 9.5% during the first quarter. Centaurus Financial Inc. now owns 2,319 shares of the company’s stock worth $568,000 after purchasing an additional 202 shares during the last quarter. Bull Harbor Capital LLC acquired a new stake in MongoDB in the first quarter valued at $674,000. Ashton Thomas Securities LLC purchased a new position in shares of MongoDB in the first quarter valued at $431,000. Arkadios Wealth Advisors increased its position in shares of MongoDB by 92.9% in the first quarter. Arkadios Wealth Advisors now owns 4,116 shares of the company’s stock valued at $1,008,000 after buying an additional 1,982 shares in the last quarter. Finally, Amundi raised its stake in shares of MongoDB by 17.8% during the 1st quarter. Amundi now owns 376,447 shares of the company’s stock worth $92,143,000 after buying an additional 56,888 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Key Headlines Impacting MongoDB

Here are the key news stories impacting MongoDB this week:

• Positive Sentiment: Bank of America raised its price target on MongoDB to $375 from $350, implying meaningful upside from current levels and reinforcing a more constructive Wall Street view ahead of earnings.
• Positive Sentiment: Analyst sentiment remains broadly favorable, with multiple firms maintaining buy or outperform ratings and recent commentary highlighting MongoDB’s AI data platform initiatives and potential Atlas consumption rebound.
• Neutral Sentiment: CEO/founder Dwight Merriman disclosed multiple planned sales of MongoDB shares, including a 6,000-share sale and a prior 10,000-share sale, both executed under a pre-arranged 10b5-1 trading plan. While routine, these trades can still weigh on sentiment because they show insider selling rather than buying. Article Title
• Neutral Sentiment: MongoDB recently beat quarterly EPS and revenue expectations, and the stock has been trading well above its 50-day average, but it remains slightly below its 200-day average, leaving investors focused on whether the next report confirms a sustained growth rebound.

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.