MongoDB (NASDAQ:MDB) Price Target Raised to $455.00 at Citigroup

by · The Cerbat Gem

MongoDB (NASDAQ:MDB – Get Free Report) had its target price increased by Citigroup from $450.00 to $455.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 43.78% from the company’s previous close.

Several other research firms also recently weighed in on MDB. Monness Crespi & Hardt upped their price target on MongoDB from $370.00 to $415.00 and gave the stock a “buy” rating in a research note on Friday. Zacks Research raised MongoDB from a “strong sell” rating to a “hold” rating in a report on Friday, May 15th. Barclays raised their price objective on shares of MongoDB from $370.00 to $387.00 and gave the stock an “overweight” rating in a research note on Friday. Wells Fargo & Company dropped their price objective on shares of MongoDB from $450.00 to $375.00 and set an “overweight” rating on the stock in a report on Tuesday, March 3rd. Finally, UBS Group restated a “neutral” rating on shares of MongoDB in a report on Friday. Twenty-seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $388.43.

Read Our Latest Stock Report on MongoDB

MongoDB Trading Down 2.8%

Shares of MDB stock traded down $9.22 during midday trading on Friday, reaching $316.46. 6,477,977 shares of the stock were exchanged, compared to its average volume of 1,964,462. MongoDB has a 1 year low of $182.43 and a 1 year high of $444.72. The company’s 50 day moving average is $272.10 and its two-hundred day moving average is $333.73. The firm has a market cap of $25.43 billion, a PE ratio of -360.01 and a beta of 1.48.

MongoDB (NASDAQ:MDB – Get Free Report) last posted its earnings results on Thursday, May 28th. The company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.13. The firm had revenue of $687.62 million for the quarter, compared to the consensus estimate of $664.53 million. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The business’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.00 EPS. 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, equities analysts expect that MongoDB will post -0.46 EPS for the current fiscal year.

Insider Transactions at MongoDB

In other MongoDB news, Director Hope F. Cochran sold 1,566 shares of MongoDB stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total transaction of $390,450.78. Following the completion of the transaction, the director 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dwight A. Merriman sold 10,000 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $297.99, for a total value of $2,979,900.00. Following the completion of the transaction, 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 31,566 shares of company stock valued at $8,744,791. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MongoDB

Hedge funds have recently made changes to their positions in the business. Cornerstone Planning Group LLC boosted its holdings in shares of MongoDB by 1,220.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock worth $27,000 after buying an additional 61 shares during the period. Central Pacific Bank Trust Division acquired a new position in shares of MongoDB in the fourth quarter worth about $28,000. Huntington National Bank boosted its holdings in shares of MongoDB by 110.9% in the third quarter. Huntington National Bank now owns 97 shares of the company’s stock worth $30,000 after buying an additional 51 shares during the period. International Assets Investment Management LLC acquired a new position in shares of MongoDB in the fourth quarter worth about $33,000. Finally, Cassaday & Co Wealth Management LLC acquired a new position in shares of MongoDB in the first quarter worth about $34,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

More MongoDB News

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MongoDB Company Profile

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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.

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