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Investing.com - Cantor Fitzgerald raised its price target on MongoDB (NASDAQ:MDB) to $312 from $271 on Wednesday, while maintaining an Overweight rating on the database software company. According to InvestingPro data, analyst targets for MongoDB range from $170 to $405, with a strong consensus recommendation of 1.65 (Buy).
The price target increase follows MongoDB’s recent quarterly results, which exceeded expectations with revenue beating estimates by 7% and EBIT surpassing forecasts by 52%, according to Visible Alpha data.
MongoDB raised its full-year guidance by $70 million, significantly higher than the $38 million quarterly beat, indicating management’s confidence in the company’s second-half performance.
Cantor Fitzgerald cited Atlas re-acceleration, margin expansion, and uplift from vector search and AI capabilities as key drivers supporting its thesis on MongoDB.
The firm’s new price target reflects 6% higher calendar 2026 revenue estimates and an expanded EV/revenue multiple of 9x from 8x, compared to the three-year next-twelve-months average of 10x.
In other recent news, MongoDB reported strong fiscal second-quarter results, with revenue reaching $591 million, marking a 24% year-over-year increase and surpassing consensus estimates by $37 million. The company’s Atlas cloud database service played a significant role in this growth, with a 29% year-over-year increase, up from 26% in the previous quarter. Following these results, several analyst firms have adjusted their price targets for MongoDB. Morgan Stanley raised its price target to $325, maintaining an Overweight rating, citing accelerating customer base and cloud growth. Needham also increased its target to $325, highlighting MongoDB’s revenue performance exceeding forecasts by 7%. DA Davidson and Stifel both raised their price targets to $325, maintaining Buy ratings, with Stifel noting the quarter as one of MongoDB’s strongest ever. Meanwhile, Mizuho adjusted its target to $250, keeping a Neutral rating, acknowledging the company’s broad-based enterprise strength. These developments reflect the positive reception of MongoDB’s recent performance in the market.
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