Royal Bank Of Canada Increases MongoDB (NASDAQ:MDB) Price Target to $515.00

by · The Markets Daily

MongoDB (NASDAQ:MDB – Get Free Report) had its price target hoisted by equities researchers at Royal Bank Of Canada from $395.00 to $515.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 12.82% from the stock’s previous close.

Several other equities research analysts have also issued reports on the company. Cantor Fitzgerald raised their price objective on MongoDB from $378.00 to $416.00 and gave the company an “overweight” rating in a research note on Tuesday, May 26th. Needham & Company LLC raised their price target on MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Morgan Stanley boosted their price objective on shares of MongoDB from $335.00 to $380.00 and gave the company an “overweight” rating in a research report on Friday, May 29th. Robert W. Baird upped their price target on shares of MongoDB from $260.00 to $335.00 and gave the company a “neutral” rating in a report on Wednesday, May 20th. Finally, DA Davidson reissued a “buy” rating and issued a $375.00 price objective on shares of MongoDB in a research note on Friday, May 29th. One investment 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 MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $414.23.

Check Out Our Latest Analysis on MongoDB

MongoDB Stock Up 4.3%

NASDAQ MDB traded up $18.67 during trading on Thursday, hitting $456.50. 410,043 shares of the stock traded hands, compared to its average volume of 1,881,667. The company has a market capitalization of $36.72 billion, a P/E ratio of -1,236.36, a price-to-earnings-growth ratio of 1,799.84 and a beta of 1.55. MongoDB has a 12-month low of $202.05 and a 12-month high of $461.13. The firm has a 50-day simple moving average of $344.44 and a 200-day simple moving average of $316.06.

MongoDB (NASDAQ:MDB – Get Free Report) last released its quarterly earnings results on Thursday, May 28th. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $687.62 million for the quarter, compared to the consensus estimate of $664.53 million. During the same quarter in the prior year, the firm earned $1.00 earnings per share. MongoDB’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. As a group, research analysts predict that MongoDB will post 0.02 EPS for the current fiscal year.

Insider Buying and Selling at MongoDB

In other MongoDB news, CFO Michael J. Berry sold 5,000 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $356.63, for a total value of $1,783,150.00. Following the completion of the transaction, the chief financial officer directly owned 1,500 shares in the company, valued at approximately $534,945. The trade was a 76.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dwight A. Merriman sold 1,130 shares of MongoDB stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $334.25, for a total transaction of $377,702.50. Following the completion of the transaction, the director directly owned 982,953 shares in the company, valued at approximately $328,552,040.25. The trade was a 0.11% decrease in their position. 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 three months, insiders have sold 115,746 shares of company stock worth $43,783,518. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of MongoDB

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. ValueAct Holdings L.P. raised its stake in shares of MongoDB by 206.8% during the 3rd 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 last quarter. Norges Bank purchased a new stake in MongoDB in the 4th quarter worth $574,821,000. AQR Capital Management LLC raised its position in shares of MongoDB by 2,567.2% during the 2nd quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company’s stock worth $233,435,000 after purchasing an additional 1,069,969 shares during the last quarter. Amundi lifted its position in shares of MongoDB by 61.3% in the third quarter. Amundi now owns 1,483,396 shares of the company’s stock valued at $477,550,000 after acquiring an additional 563,995 shares in the last quarter. Finally, Capital World Investors grew its holdings in shares of MongoDB by 129.1% during the fourth quarter. Capital World Investors now owns 980,182 shares of the company’s stock worth $411,373,000 after buying an additional 552,434 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

About MongoDB

(Get Free Report)

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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