MongoDB (NASDAQ:MDB) Given New $430.00 Price Target at Needham & Company LLC

MongoDB (NASDAQ:MDB) had its target price increased by Needham & Company LLC from $400.00 to $430.00 in a research report released on Friday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on the stock. Barclays lifted their target price on shares of MongoDB from $370.00 to $387.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Morgan Stanley raised their price target on MongoDB from $335.00 to $380.00 and gave the stock an “overweight” rating in a research note on Friday, May 29th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $395.00 target price on shares of MongoDB in a research note on Tuesday, May 19th. Citizens Jmp restated a “market outperform” rating and set a $366.00 price target on shares of MongoDB in a report on Friday, May 29th. Finally, Wall Street Zen cut shares of MongoDB from a “buy” rating to a “hold” rating in a report on Sunday, June 7th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $400.41.

MongoDB Trading Down 5.7%

NASDAQ:MDB traded down $20.79 on Friday, hitting $342.08. 1,401,758 shares of the company’s stock traded hands, compared to its average volume of 1,434,766. MongoDB has a 1 year low of $198.47 and a 1 year high of $444.72. The firm has a 50-day moving average price of $330.89 and a 200-day moving average price of $327.77. The company has a market cap of $27.51 billion, a PE ratio of -924.54, a price-to-earnings-growth ratio of 1,308.71 and a beta of 1.55.

MongoDB (NASDAQ:MDB) last posted 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. The business had revenue of $687.62 million during the quarter, compared to analyst estimates of $664.53 million. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. The firm’s revenue was up 25.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $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. On average, research analysts forecast that MongoDB will post 0.02 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Dev Ittycheria sold 40,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $383.16, for a total transaction of $15,326,400.00. Following the completion of the transaction, the director owned 161,762 shares of the company’s stock, valued at approximately $61,980,727.92. The trade was a 19.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dwight A. Merriman sold 10,000 shares of MongoDB stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $353.91, for a total value of $3,539,100.00. Following the completion of the transaction, the director directly owned 983,316 shares in the company, valued at approximately $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 three months, insiders have sold 139,746 shares of company stock valued at $50,247,978. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Institutional investors have recently added to or reduced their stakes in the company. ValueAct Holdings L.P. raised its holdings in MongoDB by 206.8% in the 3rd quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock valued at $657,447,000 after acquiring an additional 1,427,700 shares in the last quarter. State Street Corp grew its holdings in shares of MongoDB by 2.3% during the 4th quarter. State Street Corp now owns 1,796,847 shares of the company’s stock worth $754,119,000 after purchasing an additional 40,219 shares in the last quarter. Amundi increased its position in shares of MongoDB by 61.3% during the third quarter. Amundi now owns 1,483,396 shares of the company’s stock valued at $477,550,000 after purchasing an additional 563,995 shares during the period. Geode Capital Management LLC increased its position in shares of MongoDB by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,444,384 shares of the company’s stock valued at $604,429,000 after purchasing an additional 9,693 shares during the period. Finally, Jericho Capital Asset Management L.P. raised its stake in shares of MongoDB by 162.1% in the third quarter. Jericho Capital Asset Management L.P. now owns 1,378,540 shares of the company’s stock valued at $427,871,000 after purchasing an additional 852,540 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting MongoDB

Here are the key news stories impacting MongoDB this week:

• Positive Sentiment: KGI Securities upgraded MongoDB to strong-buy, adding to recent upbeat analyst sentiment around the stock. Zacks.com
• Positive Sentiment: Needham raised its price target on MongoDB to $430 from $400 and reiterated a buy rating, implying meaningful upside from current levels.
• Positive Sentiment: Truist also lifted its price target to $400 and kept a buy rating, reinforcing confidence in MongoDB’s growth outlook.
• Neutral Sentiment: MongoDB shareholders approved governance changes at the annual meeting, a routine corporate development that may be viewed as a long-term governance improvement. Article
• Neutral Sentiment: Citi highlighted AI beneficiaries ahead of software earnings, with MongoDB potentially benefiting from continued enterprise AI spending, though the note was broader industry commentary rather than a direct company-specific update. Article
• Negative Sentiment: Despite the favorable analyst action, MongoDB stock has been under pressure in recent trading, suggesting investors are taking profits or rotating out of the name even after positive fundamental and rating news. Article

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.