MongoDB (NASDAQ:MDB) Stock Rating Lowered by Wall Street Zen

MongoDB (NASDAQ:MDB) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Sunday.

Several other brokerages also recently weighed in on MDB. Piper Sandler raised their target price on MongoDB from $330.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, May 29th. Scotiabank reiterated an “outperform” rating on shares of MongoDB in a research note on Friday, May 29th. BMO Capital Markets increased their price target on MongoDB from $360.00 to $375.00 and gave the company an “outperform” rating in a report on Friday, May 29th. Royal Bank Of Canada restated an “outperform” rating and set a $395.00 price objective on shares of MongoDB in a research note on Tuesday, May 19th. Finally, Monness Crespi & Hardt lifted their price objective on MongoDB from $370.00 to $415.00 and gave the stock a “buy” rating in a report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, MongoDB presently has a consensus rating of “Moderate Buy” and a consensus target price of $405.35.

MongoDB Trading Down 0.3%

MDB opened at $298.22 on Friday. The company has a fifty day simple moving average of $336.75 and a 200 day simple moving average of $320.24. The firm has a market cap of $23.99 billion, a price-to-earnings ratio of -806.00, a PEG ratio of 1,222.21 and a beta of 1.55. MongoDB has a twelve month low of $198.47 and a twelve month high of $444.72.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Thursday, May 28th. The company reported $1.32 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $687.62 million for the quarter, compared to the consensus estimate of $664.53 million. During the same quarter in the previous year, the firm posted $1.00 EPS. The firm’s quarterly 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, analysts forecast that MongoDB will post 0.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Michael J. Berry sold 5,000 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $356.63, for a total value of $1,783,150.00. Following the completion of the sale, the chief financial officer directly owned 1,500 shares of the company’s stock, valued at $534,945. The trade was a 76.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Roelof Botha sold 44,050 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $398.07, for a total value of $17,534,983.50. Following the sale, the director owned 150,550 shares in the company, valued at $59,929,438.50. The trade was a 22.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 127,746 shares of company stock worth $47,343,538. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Cornerstone Planning Group LLC grew its position in shares of MongoDB by 1,220.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock worth $27,000 after acquiring an additional 61 shares during the last quarter. International Assets Investment Management LLC bought a new stake in MongoDB in the 4th quarter valued at about $33,000. Root Financial Partners LLC lifted its position in MongoDB by 58.2% in the 4th quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock valued at $37,000 after purchasing an additional 32 shares during the last quarter. Global Trust Asset Management LLC acquired a new position in MongoDB during the 4th quarter valued at about $38,000. Finally, CX Institutional boosted its stake in MongoDB by 94.3% during the 2nd quarter. CX Institutional now owns 103 shares of the company’s stock valued at $35,000 after purchasing an additional 50 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.