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Investing.com - Macquarie maintained its Neutral rating on MongoDB (NASDAQ:MDB) while raising its price target to $305.00 from $265.00. The company, currently trading at $313.29 with a market capitalization of $25.59 billion, has demonstrated strong momentum with a 67.15% return over the past six months. According to InvestingPro, 30 analysts have recently revised their earnings estimates upward for the upcoming period.
The research firm cited stable usage trends and a growing Atlas base as factors that could help MongoDB carry its first-half momentum into the second half of the year.
Macquarie also noted that MongoDB’s artificial intelligence roadmap and AMP (Atlas for MongoDB Platform) appear well-conceived, showing confidence in the company’s strategic direction.
Despite these positive factors, Macquarie expressed that MongoDB needs a "game-changer" to significantly expand beyond its current 2% database management system market share.
The firm also indicated skepticism about near-term AI monetization, stating it suspects "it will take some time before we see significant monetization of AI capabilities."
In other recent news, MongoDB has been the focus of several analyst updates following its investor session and user conference in New York City. RBC Capital maintained its Outperform rating with a price target of $350, highlighting MongoDB’s new Application Modernization Platform and its potential in AI workloads. Cantor Fitzgerald increased its price target from $312 to $406, citing confidence in the strength of MongoDB’s Atlas product, margin expansion, and competitive positioning in the AI data stack. Bernstein SocGen reiterated its Outperform rating with a price target of $338, following MongoDB’s analyst day presentation.
Wolfe Research also raised its price target for MongoDB to $405 from $350, maintaining an Outperform rating, and noted the company’s strong innovation and growth potential in artificial intelligence applications. BofA Securities increased its price target from $345 to $380, keeping a Buy rating, and expressed optimism about MongoDB’s strategic focus on securing larger accounts as it scales its revenue. These developments reflect a broad consensus among analysts on MongoDB’s growth prospects and strategic initiatives.
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