MongoDB (NASDAQ:MDB) Given New $375.00 Price Target at Canaccord Genuity Group

MongoDB (NASDAQ:MDB) had its price target reduced by Canaccord Genuity Group from $455.00 to $375.00 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also issued reports on MDB. Cantor Fitzgerald dropped their target price on MongoDB from $454.00 to $378.00 and set an “overweight” rating for the company in a research report on Tuesday. Citigroup dropped their price objective on MongoDB from $435.00 to $400.00 and set a “buy” rating for the company in a report on Tuesday. DA Davidson cut their price objective on MongoDB from $465.00 to $385.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Macquarie Infrastructure increased their target price on MongoDB from $305.00 to $385.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 2nd. Finally, Monness Crespi & Hardt lowered their target price on shares of MongoDB from $475.00 to $370.00 and set a “buy” rating for the company in a research note on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and an average price target of $357.82.

MongoDB Trading Down 22.2%

Shares of MDB opened at $252.73 on Tuesday. MongoDB has a twelve month low of $140.78 and a twelve month high of $444.72. The company has a market cap of $20.57 billion, a P/E ratio of -287.19 and a beta of 1.40. The company’s fifty day simple moving average is $379.54 and its 200-day simple moving average is $352.01.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Monday, March 2nd. The company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.18. The firm had revenue of $695.07 million during the quarter, compared to analysts’ expectations of $669.40 million. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The firm’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.28 EPS. Analysts predict that MongoDB will post -1.78 earnings per share for the current fiscal year.

Insider Transactions at MongoDB

In related news, CAO Thomas Bull sold 555 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $413.86, for a total value of $229,692.30. Following the completion of the sale, the chief accounting officer directly owned 10,784 shares of the company’s stock, valued at $4,463,066.24. This represents a 4.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roelof Botha sold 24,850 shares of the firm’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $405.85, for a total transaction of $10,085,372.50. Following the transaction, the director directly owned 194,600 shares in the company, valued at $78,978,410. This trade represents a 11.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 57,354 shares of company stock worth $23,474,994 over the last quarter. 3.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On MongoDB

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Central Pacific Bank Trust Division bought a new stake in MongoDB during the fourth quarter valued at about $28,000. Cornerstone Planning Group LLC lifted 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 valued at $27,000 after buying an additional 61 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of MongoDB in the 4th quarter valued at about $33,000. Root Financial Partners LLC boosted its holdings in shares of 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 buying an additional 32 shares in the last quarter. Finally, Global Trust Asset Management LLC purchased a new position in shares of MongoDB in the 4th quarter worth approximately $38,000. 89.29% of the stock is currently owned by institutional investors.

Key Stories Impacting MongoDB

Here are the key news stories impacting MongoDB this week:

• Positive Sentiment: Q4 results beat expectations — stronger-than-expected revenue, EPS and Atlas growth, improved margins and rising free cash flow provide a solid operational base that supports longer‑term growth thesis. PR Newswire: Q4 Results
• Positive Sentiment: Several analysts remain constructive on MDB’s long-term story (AI positioning, Atlas cloud product) and some firms kept buy/overweight ratings despite lowering price targets, signaling that many sell‑side analysts view the pullback as valuation resetting. MarketBeat: Buying Opportunity
• Neutral Sentiment: Management will present at the Morgan Stanley TMT conference (Mar 4), which could provide fresh color on Atlas trends, sales cadence and the leadership transition. Investors may watch that for clarification. PR Newswire: Conference
• Neutral Sentiment: Some commentators and analysts say the market reaction may be overblown given the strong quarter and multi‑year growth drivers; that view could support a stabilization if management reassures investors. Seeking Alpha: Reaction Overblown
• Negative Sentiment: Guidance and Atlas growth outlook disappointed investors — management’s forward commentary and near‑term guidance were viewed as muted relative to expectations, which is the primary driver of the selloff. Reuters: Guidance Reaction
• Negative Sentiment: Unexpected executive departures (senior go‑to‑market leaders) increased uncertainty about near‑term sales execution and exacerbated the stock drop. Blockonomi: Exec Departures
• Negative Sentiment: Widespread analyst price‑target cuts and at least one downgrade have amplified selling pressure; expect further volatility as sell‑side models are reworked. Benzinga: PT Cuts Summary
• Negative Sentiment: Heavy trading volume and rapid price decline increase the chance of short‑term technical weakness and institutional selling, even if fundamentals remain intact. Investopedia: Market Reaction

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.