MongoDB (NASDAQ:MDB) Given New $400.00 Price Target at Truist Financial

MongoDB (NASDAQ:MDB) had its price objective raised by Truist Financial from $375.00 to $400.00 in a report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

MDB has been the subject of several other research reports. Wall Street Zen downgraded MongoDB from a “buy” rating to a “hold” rating in a research note on Sunday, June 7th. Morgan Stanley raised their price objective on MongoDB from $335.00 to $380.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Monness Crespi & Hardt boosted their target price on MongoDB from $370.00 to $415.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Weiss Ratings cut MongoDB from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 29th. Finally, Canaccord Genuity Group increased their price target on MongoDB from $375.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, May 27th. Twenty-eight equities research analysts have rated the stock with a Buy rating, seven have assigned 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 a consensus target price of $399.47.

MongoDB Trading Up 1.0%

MongoDB stock opened at $362.87 on Thursday. MongoDB has a 1-year low of $198.47 and a 1-year high of $444.72. The firm’s fifty day simple moving average is $329.22 and its 200-day simple moving average is $327.67. The company has a market capitalization of $29.19 billion, a P/E ratio of -980.73, a P/E/G ratio of 1,296.20 and a beta of 1.55.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data 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 firm had revenue of $687.62 million during the quarter, compared to analysts’ expectations of $664.53 million. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. MongoDB’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same period in the prior year, the company posted $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, equities research analysts predict that MongoDB will post 0.02 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Dev Ittycheria sold 40,000 shares of the company’s stock in a transaction that occurred on 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 directly owned 161,762 shares in the company, valued at $61,980,727.92. The trade was a 19.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dwight A. Merriman sold 10,000 shares of the stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $353.91, for a total value of $3,539,100.00. Following the completion of the sale, the director directly owned 983,316 shares of the company’s stock, valued at $348,005,365.56. This represents a 1.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 139,746 shares of company stock valued at $50,247,978. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of MongoDB

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cornerstone Planning Group LLC increased its holdings in shares of MongoDB by 1,220.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock worth $27,000 after purchasing an additional 61 shares during the period. Central Pacific Bank Trust Division acquired a new position in shares of MongoDB during the fourth quarter valued at about $28,000. International Assets Investment Management LLC bought a new stake in shares of MongoDB in the fourth quarter valued at about $33,000. Cassaday & Co Wealth Management LLC bought a new stake in shares of MongoDB in the first quarter valued at about $34,000. Finally, CX Institutional grew its position in MongoDB by 94.3% during the second quarter. CX Institutional now owns 103 shares of the company’s stock worth $35,000 after buying an additional 50 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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.