DA Davidson Brokers Decrease Earnings Estimates for MongoDB

MongoDB, Inc. (NASDAQ:MDB - Free Report) - Equities researchers at DA Davidson cut their FY2026 earnings per share estimates for shares of MongoDB in a research note issued to investors on Thursday, March 6th. DA Davidson analyst R. Kessinger now expects that the company will post earnings of ($2.43) per share for the year, down from their previous estimate of ($2.02). DA Davidson has a "Buy" rating and a $405.00 price objective on the stock. The consensus estimate for MongoDB's current full-year earnings is ($1.78) per share. DA Davidson also issued estimates for MongoDB's FY2027 earnings at ($2.29) EPS.

Other research analysts have also issued research reports about the company. Piper Sandler lowered their price target on MongoDB from $425.00 to $280.00 and set an "overweight" rating on the stock in a research report on Thursday. Tigress Financial boosted their price target on MongoDB from $400.00 to $430.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Scotiabank reaffirmed a "sector perform" rating and set a $240.00 price target (down previously from $275.00) on shares of MongoDB in a research report on Wednesday. KeyCorp lowered MongoDB from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group decreased their target price on MongoDB from $390.00 to $335.00 and set a "buy" rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $319.87.

Remove Ads

MongoDB Stock Down 2.8 %

NASDAQ:MDB opened at $187.65 on Monday. The firm has a market capitalization of $13.97 billion, a price-to-earnings ratio of -68.49 and a beta of 1.30. MongoDB has a twelve month low of $181.05 and a twelve month high of $387.19. The stock's 50 day moving average price is $261.68 and its two-hundred day moving average price is $274.47.

MongoDB (NASDAQ:MDB - Get Free Report) last released its earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.45). The firm had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same quarter in the previous year, the firm posted $0.86 EPS.

Hedge Funds Weigh In On MongoDB

Large investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in MongoDB during the fourth quarter worth approximately $189,584,000. Jennison Associates LLC lifted its holdings in shares of MongoDB by 23.6% in the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company's stock valued at $838,632,000 after purchasing an additional 592,038 shares in the last quarter. Marshall Wace LLP bought a new position in shares of MongoDB in the fourth quarter valued at approximately $110,356,000. Raymond James Financial Inc. bought a new position in shares of MongoDB in the fourth quarter valued at approximately $90,478,000. Finally, D1 Capital Partners L.P. bought a new position in shares of MongoDB in the fourth quarter valued at approximately $76,129,000. 89.29% of the stock is currently owned by institutional investors.

Insider Activity

In other MongoDB news, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $254.86, for a total value of $2,124,258.10. Following the completion of the transaction, the chief executive officer now directly owns 217,294 shares in the company, valued at approximately $55,379,548.84. This trade represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $270.63, for a total value of $811,890.00. Following the completion of the transaction, the director now owns 1,109,006 shares of the company's stock, valued at $300,130,293.78. This represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 49,314 shares of company stock worth $12,981,833. 3.60% of the stock is currently owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.