Wall Street Zen Upgrades MongoDB (NASDAQ:MDB) to “Buy”

MongoDB (NASDAQ:MDB) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Other research analysts also recently issued research reports about the company. Citigroup reiterated a “buy” rating on shares of MongoDB in a report on Monday, June 8th. Weiss Ratings cut MongoDB from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 29th. Stifel Nicolaus set a $435.00 price target on MongoDB in a report on Friday, May 29th. Morgan Stanley increased their price target on shares of MongoDB from $335.00 to $380.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Finally, Mizuho raised their price objective on shares of MongoDB from $325.00 to $400.00 and gave the stock an “outperform” rating in a report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $405.35.

MongoDB Trading Down 5.0%

MongoDB stock opened at $312.33 on Friday. The stock has a market cap of $25.12 billion, a P/E ratio of -844.14, a price-to-earnings-growth ratio of 1,185.11 and a beta of 1.55. The company has a fifty day simple moving average of $336.51 and a 200-day simple moving average of $324.09. MongoDB has a 12-month low of $198.47 and a 12-month high of $444.72.

MongoDB (NASDAQ:MDB) last issued its earnings results on Thursday, May 28th. The company reported $1.32 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 the consensus estimate of $664.53 million. MongoDB had a negative net margin of 1.12% and a negative return on equity of 1.39%. The company’s revenue was up 25.2% compared to the same quarter last year. During the same quarter in the previous year, the firm 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. As a group, sell-side analysts forecast that MongoDB will post 0.02 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In other news, Director Roelof Botha sold 44,050 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $398.07, for a total value of $17,534,983.50. Following the completion of the sale, the director directly owned 150,550 shares of the company’s stock, valued at approximately $59,929,438.50. The trade was a 22.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dwight A. Merriman sold 10,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $297.99, for a total value of $2,979,900.00. Following the completion of the sale, the director directly owned 993,316 shares of the company’s stock, valued at approximately $295,998,234.84. This trade represents a 1.00% 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 have sold 127,746 shares of company stock valued at $47,343,538. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MDB. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of MongoDB by 115.1% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 354,720 shares of the company’s stock valued at $148,872,000 after purchasing an additional 189,820 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in MongoDB by 69.6% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 345,563 shares of the company’s stock worth $145,029,000 after buying an additional 141,755 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in MongoDB by 611.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 715,100 shares of the company’s stock worth $300,120,000 after buying an additional 614,559 shares during the period. Fiera Capital Corp grew its position in MongoDB by 33.6% during the fourth quarter. Fiera Capital Corp now owns 183,035 shares of the company’s stock worth $76,818,000 after buying an additional 46,051 shares during the period. Finally, M&T Bank Corp increased its holdings in MongoDB by 12,467.7% in the fourth quarter. M&T Bank Corp now owns 323,744 shares of the company’s stock valued at $135,872,000 after buying an additional 321,168 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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.