MongoDB (NASDAQ:MDB) Given New $280.00 Price Target at Scotiabank

MongoDB (NASDAQ:MDB) had its price objective boosted by Scotiabank from $230.00 to $280.00 in a report issued on Wednesday morning, Marketbeat.com reports. Scotiabank currently has a sector perform rating on the stock.

Several other equities analysts have also recently commented on MDB. JMP Securities reaffirmed a “market outperform” rating and set a $345.00 price target on shares of MongoDB in a research report on Thursday, June 5th. Zacks Research raised MongoDB to a “hold” rating in a report on Friday, August 8th. DA Davidson reiterated a “buy” rating and issued a $275.00 target price on shares of MongoDB in a research report on Thursday, June 5th. Citigroup lifted their price objective on shares of MongoDB from $395.00 to $405.00 and gave the stock a “buy” rating in a report on Monday, August 18th. Finally, William Blair reiterated an “outperform” rating on shares of MongoDB in a research note on Thursday, June 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $307.71.

MongoDB Trading Up 38.0%

Shares of NASDAQ:MDB opened at $295.70 on Wednesday. The firm has a market cap of $24.16 billion, a PE ratio of -301.73 and a beta of 1.44. The company has a fifty day simple moving average of $218.36 and a 200 day simple moving average of $206.87. MongoDB has a 12-month low of $140.78 and a 12-month high of $370.00.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.35. The firm had revenue of $549.01 million for the quarter, compared to the consensus estimate of $527.49 million. MongoDB had a negative net margin of 3.54% and a negative return on equity of 1.76%. The firm’s revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.51 EPS. MongoDB has set its FY 2026 guidance at 2.940-3.120 EPS. Q2 2026 guidance at 0.620-0.660 EPS. As a group, equities research analysts forecast that MongoDB will post -1.78 EPS for the current fiscal year.

Insider Activity at MongoDB

In other news, Director Dwight A. Merriman sold 1,000 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $245.00, for a total value of $245,000.00. Following the completion of the transaction, the director owned 1,104,316 shares of the company’s stock, valued at approximately $270,557,420. This represents a 0.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Dev Ittycheria sold 8,335 shares of the firm’s stock in a transaction on Monday, July 28th. The shares were sold at an average price of $243.89, for a total value of $2,032,823.15. Following the transaction, the chief executive officer directly owned 236,557 shares in the company, valued at $57,693,886.73. This trade represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,416 shares of company stock worth $11,936,656 in the last three months. 3.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On MongoDB

Several large investors have recently bought and sold shares of the stock. Orion Porfolio Solutions LLC raised its position in shares of MongoDB by 14.4% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 8,339 shares of the company’s stock worth $1,751,000 after buying an additional 1,047 shares in the last quarter. MASTERINVEST Kapitalanlage GmbH acquired a new position in shares of MongoDB during the second quarter valued at approximately $1,727,000. Promus Capital LLC bought a new stake in MongoDB during the second quarter worth approximately $36,000. Marex Group plc bought a new stake in MongoDB during the second quarter worth approximately $232,000. Finally, State of Wyoming lifted its position in MongoDB by 82.1% in the second quarter. State of Wyoming now owns 641 shares of the company’s stock worth $135,000 after purchasing an additional 289 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

About MongoDB

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.