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Investing.com - Rosenblatt Securities raised its price target on MongoDB (NASDAQ:MDB) to $305 from $290 while maintaining a Buy rating following the company’s strong second-quarter performance. According to InvestingPro data, analysts’ price targets for MongoDB range from $170 to $405, with the stock currently trading near $214.
MongoDB reported quarterly revenues approximately 7% above Rosenblatt’s estimates, with Enterprise Advanced (EA) showing strength driven by more multi-year renewal deals than expected. Non-Atlas Annual Recurring Revenue (ARR) grew 7% year-over-year, while Atlas consumption revenue increased 29% year-over-year, representing 74% of total revenue. The company maintains strong financial health with a "GOOD" overall rating from InvestingPro, supported by a robust current ratio of 5.89 and impressive revenue growth of 19.24% over the last twelve months.
The database company added 2,800 new customers in the quarter, including 300 from its Voyage acquisition, bringing its total customer count to 59,900, an 18% increase year-over-year. Rosenblatt noted this growth demonstrates ongoing NoSQL database interest from both large enterprises and AI-native startups.
MongoDB implemented a small reduction in force during the quarter, affecting under 2% of its headcount and resulting in a $5 million charge. The company remains focused on driving revenue growth through higher-value large enterprise customers while maintaining investment discipline to improve operating margins. InvestingPro analysis reveals several additional key metrics and insights about MongoDB’s financial position, available in the comprehensive Pro Research Report, which transforms complex Wall Street data into actionable intelligence.
For fiscal year 2026, MongoDB raised its revenue outlook by 3.5% and increased its operating margin forecast by approximately 1.5% to about 13.8%. Rosenblatt has increased its revenue forecast by approximately 3% with higher margins and expects the stock to react positively in the near term. With a market capitalization of $17.57 billion and analysts maintaining a bullish consensus recommendation, MongoDB shows promising growth potential.
In other recent news, MongoDB has reported strong quarterly earnings that have exceeded expectations, with revenue reaching $591 million, representing a 24% year-over-year growth. This performance surpassed consensus estimates by $37 million and was driven by accelerating growth in its Atlas service, which saw a 29% increase year-over-year. Following these results, several financial firms have raised their price targets for MongoDB. Cantor Fitzgerald increased its price target to $312, citing revenue and EBIT figures that exceeded forecasts by 7% and 52%, respectively. Morgan Stanley also raised its target to $325, highlighting accelerating customer and cloud growth along with strong margin expansion. Mizuho adjusted its target to $250, maintaining a Neutral rating, while Needham and DA Davidson both set their targets at $325, emphasizing the company’s strong performance and Atlas consumption growth. These recent developments reflect MongoDB’s robust financial health and growth trajectory.
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