MongoDB (NASDAQ:MDB) Given New $390.00 Price Target at Bank of America

MongoDB (NASDAQ:MDB) had its price objective upped by Bank of America from $375.00 to $390.00 in a research report sent to investors on Friday, Marketbeat.com reports. The brokerage currently has a buy rating on the stock.

Several other brokerages also recently issued reports on MDB. DA Davidson cut their price target on MongoDB from $465.00 to $385.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. The Goldman Sachs Group cut their price target on MongoDB from $475.00 to $320.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Rosenblatt Securities reissued a “buy” rating and set a $385.00 target price on shares of MongoDB in a report on Tuesday. Truist Financial dropped their target price on MongoDB from $500.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Finally, Robert W. Baird lifted their target price on MongoDB from $260.00 to $335.00 and gave the stock a “neutral” rating in a report on Wednesday, May 20th. Twenty-seven analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, MongoDB presently has a consensus rating of “Moderate Buy” and a consensus target price of $390.43.

MongoDB Stock Up 3.0%

Shares of MDB opened at $335.55 on Friday. The stock has a market capitalization of $26.97 billion, a P/E ratio of -906.89 and a beta of 1.48. MongoDB has a twelve month low of $182.43 and a twelve month high of $444.72. The company has a 50 day moving average of $273.44 and a 200-day moving average of $333.74.

MongoDB (NASDAQ:MDB) last released its earnings results on Thursday, May 28th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.13. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. The business had revenue of $687.62 million during the quarter, compared to analysts’ expectations of $664.53 million. During the same period last year, the business earned $1.00 earnings per share. The firm’s revenue was up 25.2% on a year-over-year basis. 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, sell-side analysts anticipate that MongoDB will post -0.46 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Hope F. Cochran sold 1,566 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $249.33, for a total transaction of $390,450.78. Following the sale, the director directly owned 24,093 shares in the company, 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 document filed with the SEC, which is accessible through the SEC website. Also, Director Dwight A. Merriman sold 6,000 shares of MongoDB stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $314.98, for a total value of $1,889,880.00. Following the completion of the transaction, the director directly owned 470,896 shares in the company, valued at approximately $148,322,822.08. This represents 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. Over the last 90 days, insiders have sold 31,566 shares of company stock worth $8,744,791. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

A number of hedge funds and other institutional investors have recently made changes to their positions in MDB. ValueAct Holdings L.P. lifted its stake in MongoDB by 206.8% in the third quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock valued at $657,447,000 after buying an additional 1,427,700 shares during the period. Norges Bank acquired a new position in MongoDB in the fourth quarter valued at approximately $574,821,000. AQR Capital Management LLC lifted its stake in MongoDB by 2,567.2% in the second quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company’s stock valued at $233,435,000 after buying an additional 1,069,969 shares during the period. Jericho Capital Asset Management L.P. lifted its stake in 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 buying an additional 852,540 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in MongoDB by 162.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,097,059 shares of the company’s stock valued at $340,505,000 after buying an additional 678,746 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

MongoDB News Summary

Here are the key news stories impacting MongoDB this week:

• Positive Sentiment: MongoDB reported Q1 earnings of $1.32 per share, ahead of estimates, while revenue rose 25% year over year to $687.6 million, topping forecasts. MongoDB, Inc. Announces First Quarter Fiscal 2027 Financial Results
• Positive Sentiment: Management raised full-year fiscal 2027 guidance, with stronger-than-expected revenue and EPS targets, which suggests continued momentum in the business. MongoDB, Inc. Announces First Quarter Fiscal 2027 Financial Results
• Positive Sentiment: Atlas cloud database growth remained a key driver, with strong customer expansion and AI-related demand helping support the company’s growth story. MongoDB Q1 Earnings & Revenues Surpass Estimates, Increases Y/Y
• Positive Sentiment: Multiple brokerages raised price targets or reaffirmed bullish ratings, including Citigroup, Bank of America, Wedbush, Oppenheimer, Mizuho, Scotiabank, Barclays, Guggenheim, and others, reinforcing investor optimism after the results. Analyst rating and price target updates
• Neutral Sentiment: Some commentary noted that the stock had an initial sharp after-hours surge before easing back, reflecting volatile trading around the earnings release. Why MDB Stock Is Up Overnight After Wild Ride Today
• Neutral Sentiment: Some articles framed MongoDB as a high-expectations AI/database winner, but also highlighted competitive and execution risks that could matter if growth slows. MongoDB Likely to See AI as Growth Tailwind Soon Following Quarterly Beat, Morgan Stanley Says

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.