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Investing.com - Macquarie maintained its Neutral rating on MongoDB (NASDAQ:MDB) while raising the price target to $265.00 from $230.00 on Wednesday. According to InvestingPro data, MongoDB currently trades at $290.25, with analysts’ targets ranging from $170 to $405. The company’s current market capitalization stands at $23.7 billion.
The firm increased its fiscal years 2026-2028 earnings estimates by 12-21% following what it described as "encouraging" second-quarter results from the database software company. The company’s revenue grew 19.2% in the last twelve months, with a healthy gross profit margin of 72.9%.
Macquarie noted that MongoDB’s strategic shift in its go-to-market approach appears to be gaining traction, with the company now focusing more on strategic accounts and winning higher-quality workloads. InvestingPro analysis shows the company maintains strong financial health with a current ratio of 5.89 and holds more cash than debt on its balance sheet.
The firm’s analysis suggests MongoDB’s long-term prospects will likely depend on an AI-driven transformation of its market position, though this factor is not yet driving revenue growth for the company.
Despite the price target increase, Macquarie maintained its Neutral stance on MongoDB stock, indicating a balanced view on the company’s near-term performance potential.
In other recent news, MongoDB has seen a series of analyst upgrades following its impressive financial performance and growth prospects. The company has increased its financial guidance for fiscal year 2026, now expecting sales of $2.34-2.36 billion, up from a previous forecast of $2.250-2.290 billion. Monness, Crespi, Hardt raised its price target for MongoDB to $360, citing this enhanced guidance as a key factor. Similarly, Truist Securities increased its price target to $330, attributing the change to MongoDB’s exceptional second-quarter results that surpassed analyst expectations. BMO Capital also raised its target to $315, highlighting the strong growth in MongoDB’s Atlas revenue, which exceeded their estimates. UBS set a new target of $310, noting the company’s improved performance in the second quarter compared to earlier in the year. Lastly, Piper Sandler elevated its price target to $345, pointing to robust demand for cloud databases and accelerating growth in MongoDB’s Atlas service. These developments underscore the positive sentiment among analysts regarding MongoDB’s future prospects.
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