# MongoDB, Inc. (MDB)

> Source: Nexqual · https://nexqual.com/MDB · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, MongoDB, Inc. (MDB), nexqual.com/MDB" · informational, not investment advice.

**Price:** USD 362.24 (-7.30% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 390.75 · day 359.9–386.58 · 52w 215.68–473.1 · market cap $29.1B · NGM

## Key facts
- Last four reported quarters (through Jul 31, 2026): revenue $2.78B, net income $58.9M (2.1% margin), free cash flow $659M (SEC filings).
- Valuation: P/E 494.7x.
- 1 of 80 tracked superinvestors hold MDB (13F, Q2 2026): 0 new, 0 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 18 Form 4 filings, $70.6M; 2 not under a Rule 10b5-1 plan ($32.9M); 0 by opportunistic insiders, 13 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 2.00 on a 1–5 scale) (40 analysts), mean target USD 452.5 (range 335–565).
- Total return with dividends: 1Y +9.8% vs S&P 500 +14.9%; 5Y -28.3% vs S&P 500 +80.3%.
- Next earnings: 2026-12-01, EPS estimate USD 1.61, revenue estimate $762M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $874M | $1.28B | $1.68B | $2.01B | $2.46B | $2.78B |
| Gross profit | $614M | $935M | $1.26B | $1.47B | $1.77B | — |
| Operating income | -$289M | -$347M | -$234M | -$216M | -$137M | -$14.5M |
| Net income | -$307M | -$345M | -$177M | -$129M | -$71.2M | $58.9M |
| EPS (diluted) | -$4.75 | -$5.03 | -$2.48 | -$1.73 | -$0.88 | — |
| Free cash flow | -$1.1M | -$20.2M | $115M | $121M | $500M | $659M |
| Gross margin | 70.3% | 72.8% | 74.8% | 73.3% | 71.7% | — |
| Operating margin | -33.1% | -27.0% | -13.9% | -10.8% | -5.6% | -0.5% |
| Net margin | -35.1% | -26.9% | -10.5% | -6.4% | -2.9% | 2.1% |
| Revenue growth | +48.0% | +47.0% | +31.1% | +19.2% | +22.8% | — |
| Cash + short-term investments | $1.83B | $1.84B | $2.02B | $2.34B | $2.39B | — |
| Total debt | $1.14B | $1.14B | $1.14B | $0K | — | — |
Fiscal years end Jan. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jul 31, 2026)
P/E 494.7x · P/S 10.5x · P/FCF 44.2x · P/B 9.8x · FCF yield 2.26% · Earnings yield 0.20% · Buyback yield (TTM) 1.39%

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold MDB. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| ValueAct Capital |  | 0.99% | $55.7M | Reduced -84.0% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
16 of 18 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-13 | Agrawal Archana | Director | 1,000 | $400K | 18.8% | Yes | Too little history (no open-market trades in 2023 or 2025) |
| 2026-10-08…2026-10-09 | Merriman Dwight A | Director | 14,000 | $5.1M | 0.9% | Yes | Routine (sold in Jan & Feb & Mar & Jun & Jul & Sep & Oct & Nov & Dec each year 2023–2025) |
| 2026-10-06 | Hazard Charles M Jr | Director | 595 | $216K | 0.8% | Yes | Too little history (no open-market trades in 2023 or 2024) |
| 2026-09-17 | Cochran Hope F | Director | 1,000 | $376K | 3.4% | Yes | Routine (sold in Apr & Jun & Sep & Dec each year 2023–2025) |
| 2026-08-14…2026-08-17 | Merriman Dwight A | Director | 16,000 | $7.4M | 1.1% | Yes | Routine (sold in Jan & Feb & Mar & Jun & Jul & Sep & Oct & Nov & Dec each year 2023–2025; this trade is outside those months) |
| 2026-07-14…2026-07-16 | Merriman Dwight A | Director | 16,000 | $5.2M | 1% | Yes | Routine (sold in Jan & Feb & Mar & Jun & Jul & Sep & Oct & Nov & Dec each year 2023–2025) |
| 2026-07-01 | Cochran Hope F | Director | 1,000 | $350K | 3.3% | Yes | Routine (sold in Apr & Jun & Sep & Dec each year 2023–2025; this trade is outside those months) |
| 2026-06-30 | Merriman Dwight A | Director | 1,130 | $378K | 0.1% | Yes | Routine (sold in Jan & Feb & Mar & Jun & Jul & Sep & Oct & Nov & Dec each year 2023–2025) |
| 2026-06-17 | Cochran Hope F | Director | 1,566 | $539K | 5.1% | Yes | Routine (sold in Apr & Jun & Sep & Dec each year 2023–2025) |
| 2026-06-16 | Berry Michael J | Chief Financial Officer | 5,000 | $1.8M | 5.5% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-06-15 | Berry Michael J | Chief Financial Officer | 5,000 | $1.8M | 5.2% | Yes | Too little history (no open-market trades in 2023–2025) |
| 2026-06-12…2026-06-15 | Merriman Dwight A | Director | 16,000 | $5.6M | 1% | Yes | Routine (sold in Jan & Feb & Mar & Jun & Jul & Sep & Oct & Nov & Dec each year 2023–2025) |
| 2026-06-04 | Ittycheria Dev | Director | 40,000 | $15.3M | 19.8% | No | Routine (sold in Jan & Feb & Apr & Jul each year 2023–2025; this trade is outside those months) |
| 2026-06-02 | Botha Roelof | Director | 44,050 | $17.5M | 22.5% | No | Too little history (no open-market trades in 2023) |
| 2026-05-29 | Cochran Hope F | Director | 1,000 | $350K | 3.6% | Yes | Routine (sold in Apr & Jun & Sep & Dec each year 2023–2025; this trade is outside those months) |
| 2026-05-14…2026-05-18 | Merriman Dwight A | Director | 16,000 | $4.9M | 1% | Yes | Routine (sold in Jan & Feb & Mar & Jun & Jul & Sep & Oct & Nov & Dec each year 2023–2025; this trade is outside those months) |
| 2026-05-07 | Merriman Dwight A | Director | 2,000 | $580K | 0.1% | Yes | Routine (sold in Jan & Feb & Mar & Jun & Jul & Sep & Oct & Nov & Dec each year 2023–2025; this trade is outside those months) |
| 2026-04-14…2026-04-16 | Merriman Dwight A | Director | 12,000 | $2.9M | 0.8% | Yes | Routine (sold in Jan & Feb & Mar & Jun & Jul & Sep & Oct & Nov & Dec each year 2023–2025; this trade is outside those months) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 40 analysts; mean target USD 452.5 (low 335, high 565).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-13 | Needham | Reiterated | Buy | $430 |
| 2026-10-08 | Scotiabank | Target raised | Sector Outperform | $440 → $450 |
| 2026-10-02 | Cantor Fitzgerald | Reiterated | Overweight | $540 |
| 2026-10-01 | DA Davidson | Maintained | Buy | $415 |
| 2026-09-30 | DA Davidson | Target lowered | Buy | $465 → $415 |
| 2026-09-30 | UBS | Target lowered | Neutral | $410 → $375 |
| 2026-09-30 | Macquarie | Maintained | Neutral | $375 |
| 2026-09-30 | Citizens | Reiterated | Market Outperform | $519 |
| 2026-09-30 | RBC Capital | Reiterated | Outperform | $465 |
| 2026-09-30 | BMO Capital | Target lowered | Outperform | $450 → $420 |
| 2026-09-30 | Guggenheim | Reiterated | Buy | $560 |
| 2026-09-30 | Stifel | Target lowered | Buy | $465 → $385 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +9.8% | -28.3% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +9.8% | -6.4% |
| Volatility (annualized) | 72.5% | 68.8% |
| Max drawdown | -48.7% (Jan 2026→Apr 2026) | -74.5% (Nov 2021→Oct 2022) |

## Peers (Software - Infrastructure)
CRWV (CoreWeave, Inc.) USD 55.6 -10.06% · VRSN (VeriSign, Inc.) USD 304.59 -0.87% · OKTA (Okta, Inc.) USD 201.33 -3.50% · CPAY (Corpay, Inc.) USD 415.01 +1.83% · ZS (Zscaler, Inc.) USD 237.76 +2.78% · FFIV (F5, Inc.) USD 450.08 -1.86%

## More
Full page: https://nexqual.com/MDB · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in MDB's own 10-K filed 2026-03-11 (https://www.sec.gov/Archives/edgar/data/1441816/000162828026016799/mdb-20260131.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Alphabet (Google) (GOOGL) | "Built for resilience, scale, and security, Atlas is available in more than 130 regions worldwide across all three major cloud providers (Amazon Web Services ("AWS"), Google Cloud Platform ("GCP") and Microsoft Azure), en…" |
| Partner | Tencent | "We have expanded our global partner ecosystem with Alibaba Cloud and Tencent Cloud to offer an authorized MongoDB-as-a-Service solution in China, allowing their customers to easily adopt and consume our hosted solution." |
| Partner | Alibaba (BABA) | "We have expanded our global partner ecosystem with Alibaba Cloud and Tencent Cloud to offer an authorized MongoDB-as-a-Service solution in China, allowing their customers to easily adopt and consume our hosted solution." |
| Partner | Accenture (ACN) | "We have also expanded our existing partnerships with independent software vendors and global systems integrators including IBM, Accenture, Infosys, Capgemini, Confluent, HCL, Wipro, Cognizant, Deloitte and Tata Consultan…" |
| Competitor | Microsoft (MSFT) | "We primarily compete with established legacy database software providers such as IBM, Microsoft, Oracle and other similar companies." |
| Competitor | Amazon (AMZN) | "We also compete with public cloud providers that offer database functionality, such as AWS, GCP and Microsoft Azure as well as other database software providers." |
| Competitor | IBM (IBM) | "We primarily compete with established legacy database software providers such as IBM, Microsoft, Oracle and other similar companies." |
| Competitor | Oracle (ORCL) | "We primarily compete with established legacy database software providers such as IBM, Microsoft, Oracle and other similar companies." |

## Revenue by product line (quarter ended 2026-07-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Subscription | $747.1M | 96.8% | +30.5% |
| — Atlas-related (part of Subscription) | $565.9M | 73.3% | +28.9% |
| — MongoDB Enterprise Advanced and other (part of Subscription) | $181.2M | 23.5% | +35.9% |
| Services | $24.6M | 3.2% | +29.3% |
| Total revenue | $771.8M | 100% | — |

## Revenue by region (quarter ended 2026-07-31)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Americas | $478.3M | 62.0% | +31.3% |
| EMEA | $210.3M | 27.2% | +30.7% |
| Asia Pacific | $83.2M | 10.8% | +25.7% |
| Total revenue | $771.8M | 100% | — |

## Company outlook (8-K filed 2026-09-01)

- "Based on information available to management as of today, September 1, 2026, MongoDB is issuing the following financial guidance for the third quarter fiscal 2027."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-10-31) | $1.61 | $1.51 | +6.6% | $761.8M | 36 |
| Next quarter (ends 2027-01-31) | $1.71 | $1.66 | +3.1% | $806.3M | 35 |
| Current fiscal year (ends 2027-01-31) | $6.54 | $6.13 | +6.8% | $3.02B | 38 |
| Next fiscal year (ends 2028-01-31) | $7.87 | $7.34 | +7.3% | $3.61B | 39 |