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On Thursday, Bernstein SocGen Group analysts adjusted their outlook on MongoDB stock (NASDAQ: NASDAQ:MDB), raising the price target to $319 from a previous target of $312. The analysts maintained an Outperform rating for the stock. Currently trading at $233.99, MongoDB has shown strong momentum with a 5.48% return in the past week. According to InvestingPro analysis, the stock appears overvalued relative to its Fair Value.
The revision follows MongoDB’s recent quarterly performance, where the company exceeded consensus revenue expectations by 4%. With impressive revenue growth of 19.22% and a robust gross profit margin of 73.32%, the company’s financial health shows promise. The analysts highlighted the company’s increased focus on margins and its decision to expand its buyback authorization by $800 million as positive factors. InvestingPro subscribers can access 12 additional key insights about MongoDB’s financial performance.
MongoDB’s updated guidance has also been well-received, as it indicates potential for further growth. The analysts noted that the company has left room to surpass expectations in the future, despite the stock’s strong performance in the aftermarket.
The analysts’ decision to raise the price target reflects their confidence in MongoDB’s continued favorable position. The adjustment was made as part of a forward-looking model update.
In other recent news, MongoDB reported a strong first quarter for fiscal year 2026, with revenue reaching $549 million, marking a 22% increase. The company has revised its full-year revenue guidance upward by $10 million, now projecting sales between $2.250 billion and $2.290 billion. MongoDB’s Atlas platform experienced a 26% year-over-year growth, contributing significantly to the company’s performance. RBC Capital maintained an Outperform rating on MongoDB, noting the company’s effective execution in balancing growth and efficiency. Truist Securities also reaffirmed a Buy rating, emphasizing the potential for operating leverage and additional growth opportunities. Monness, Crespi, Hardt upgraded MongoDB to a Buy rating, highlighting the accelerated growth of Atlas and the company’s conservative approach to generative AI. Stifel analysts maintained their Buy rating, praising MongoDB’s best new customer acquisition quarter in six years and improved sales execution. UBS raised its price target for MongoDB to $240, acknowledging the modest revenue growth but maintaining a Neutral rating due to ongoing secular trends. MongoDB’s strategic initiatives and strong quarterly performance have garnered positive attention from multiple analyst firms.
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