MongoDB (NASDAQ:MDB) Shares Up 10% on Analyst Upgrade

MongoDB, Inc. (NASDAQ:MDB)’s stock price traded up 10% during trading on Monday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The stock traded as high as $369.87 and last traded at $369.0360. 849,398 shares were traded during trading, a decline of 57% from the average session volume of 1,989,583 shares. The stock had previously closed at $335.55.

A number of other research analysts have also recently commented on the stock. Wells Fargo & Company cut their price target on shares of MongoDB from $450.00 to $375.00 and set an “overweight” rating for the company in a research note on Tuesday, March 3rd. Robert W. Baird boosted their price objective on MongoDB from $260.00 to $335.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 20th. Weiss Ratings lowered shares of MongoDB from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $395.00 price objective on shares of MongoDB in a report on Tuesday, May 19th. Finally, Citizens Jmp reiterated a “market outperform” rating and issued a $366.00 price target on shares of MongoDB in a report on Friday. Twenty-seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $390.43.

Insider Buying and Selling

In other MongoDB news, Director Dwight A. Merriman sold 10,000 shares of MongoDB stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $297.99, for a total transaction of $2,979,900.00. Following the completion of the transaction, the director directly owned 993,316 shares of the company’s stock, valued at $295,998,234.84. The trade was a 1.00% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 Hope F. Cochran sold 1,566 shares of the business’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total transaction of $390,450.78. Following the transaction, the director owned 24,093 shares in the company, valued at $6,007,107.69. This trade represents a 6.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 31,566 shares of company stock valued at $8,744,791. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Several hedge funds have recently added to or reduced their stakes in the company. Groupama Asset Managment raised its position in MongoDB by 2.2% in the 1st quarter. Groupama Asset Managment now owns 15,147 shares of the company’s stock worth $3,708,000 after purchasing an additional 325 shares during the period. Bank of America Corp DE boosted its position in shares of MongoDB by 0.3% during the first quarter. Bank of America Corp DE now owns 555,305 shares of the company’s stock valued at $135,922,000 after buying an additional 1,852 shares during the period. Centaurus Financial Inc. grew its stake in shares of MongoDB by 9.5% during the first quarter. Centaurus Financial Inc. now owns 2,319 shares of the company’s stock valued at $568,000 after buying an additional 202 shares during the last quarter. Bull Harbor Capital LLC bought a new position in shares of MongoDB during the first quarter valued at approximately $674,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of MongoDB in the first quarter worth approximately $431,000. 89.29% of the stock is currently owned by institutional investors.

MongoDB Trading Up 13.7%

The stock has a market capitalization of $30.66 billion, a P/E ratio of -1,021.45 and a beta of 1.57. The stock has a 50 day moving average of $273.44 and a 200-day moving average of $333.46.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Thursday, May 28th. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.13. MongoDB had a negative return on equity of 1.39% and a negative net margin of 1.12%.The company had revenue of $687.62 million during the quarter, compared to analysts’ expectations of $664.53 million. During the same quarter in the previous year, the business earned $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. Research analysts anticipate that MongoDB, Inc. will post -0.46 EPS for the current year.

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.