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Investing.com - DA Davidson has raised its price target on MongoDB (NASDAQ:MDB) to $465 from $415 while maintaining a Buy rating on the stock. The new target represents potential upside from the current price of $412.77, with MongoDB currently trading near its 52-week high. According to InvestingPro data, the stock has seen an impressive 70.4% price return over the past six months.
The price target increase follows MongoDB’s quarterly results, which DA Davidson described as "another strong beat & raise" with Atlas accelerating for the second straight quarter to 30% year-over-year growth compared to 29% in the previous quarter.
The firm noted that strong performance in both Non-Atlas and Enterprise Advanced segments, combined with continued cost discipline, helped drive a substantial operating profit beat. While MongoDB is not yet profitable over the last twelve months, InvestingPro analysis indicates analysts predict the company will be profitable this fiscal year with an EPS forecast of $3.98.
MongoDB’s fiscal year 2026 guidance was raised "significantly all around," according to DA Davidson, while the fourth-quarter Atlas growth guidance of 27% year-over-year suggests that 30%+ year-over-year Atlas growth is achievable by the end of the year, considering typical guidance conservatism.
DA Davidson maintained its Buy rating on MongoDB stock while implementing the price target increase from $415 to $465.
In other recent news, MongoDB reported third-quarter results that exceeded analyst expectations, with revenue surpassing projections by $37 million. This strong performance led the company to raise its full-year guidance. MongoDB’s Atlas platform showed notable growth, accelerating to 30% year-over-year, which was above the company’s earlier guidance. As a result, several firms have adjusted their price targets for MongoDB. Piper Sandler increased its price target from $400 to $490, citing the accelerating growth in the Atlas platform. Oppenheimer raised its target to $450, highlighting the strong quarterly results and broad-based demand. Bernstein SocGen Group also increased its price target to $452, noting that both the Q3 performance and fourth-quarter guidance exceeded consensus estimates. Lastly, Scotiabank adjusted its price target to $415, emphasizing the impressive third-quarter earnings and improved profitability. KeyBanc Capital Markets maintained its Sector Weight rating, acknowledging the company’s robust financial results.
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