Scotiabank Has Optimistic Outlook of MongoDB FY2025 Earnings

MongoDB, Inc. (NASDAQ:MDB) – Investment analysts at Scotiabank lifted their FY2025 earnings estimates for shares of MongoDB in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst P. Colville now anticipates that the company will earn ($1.78) per share for the year, up from their prior forecast of ($2.45). Scotiabank currently has a “Sector Perform” rating and a $350.00 price target on the stock. The consensus estimate for MongoDB’s current full-year earnings is ($1.86) per share.

Several other research analysts have also recently weighed in on the stock. KeyCorp increased their price target on shares of MongoDB from $330.00 to $375.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Royal Bank of Canada boosted their price objective on shares of MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Loop Capital boosted their price objective on shares of MongoDB from $315.00 to $400.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Mizuho boosted their price objective on shares of MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Finally, Morgan Stanley boosted their target price on shares of MongoDB from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, MongoDB has a consensus rating of “Moderate Buy” and a consensus target price of $364.64.

MongoDB Stock Down 1.4 %

MongoDB stock opened at $245.22 on Friday. The stock has a market cap of $18.26 billion, a P/E ratio of -89.50 and a beta of 1.25. MongoDB has a twelve month low of $212.74 and a twelve month high of $509.62. The company’s 50-day moving average price is $281.86 and its two-hundred day moving average price is $269.39.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. During the same period in the prior year, the business posted $0.96 EPS. The company’s quarterly revenue was up 22.3% on a year-over-year basis.

Insider Activity

In related news, CAO Thomas Bull sold 1,000 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $355.92, for a total value of $355,920.00. Following the sale, the chief accounting officer now owns 15,068 shares in the company, valued at $5,363,002.56. This represents a 6.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Cedric Pech sold 287 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $67,183.83. Following the completion of the sale, the insider now owns 24,390 shares in the company, valued at $5,709,455.10. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,161 shares of company stock worth $8,427,806. Company insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On MongoDB

A number of institutional investors have recently added to or reduced their stakes in MDB. Jennison Associates LLC grew its position in MongoDB by 23.6% in the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after purchasing an additional 592,038 shares in the last quarter. Thrivent Financial for Lutherans grew its position in MongoDB by 1,098.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock worth $106,084,000 after purchasing an additional 388,979 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in MongoDB in the 2nd quarter worth about $52,131,000. Avala Global LP bought a new stake in MongoDB in the 3rd quarter worth about $47,960,000. Finally, Renaissance Technologies LLC grew its position in MongoDB by 828.9% in the 2nd quarter. Renaissance Technologies LLC now owns 183,000 shares of the company’s stock worth $45,743,000 after purchasing an additional 163,300 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

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.