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Investing.com - Monness, Crespi, Hardt raised its price target on MongoDB (NASDAQ:MDB) to $360.00 from $295.00 on Wednesday, while maintaining a Buy rating on the database software company’s stock. The new target aligns with the broader analyst consensus, as MongoDB currently carries a "Buy" rating with price targets ranging from $170 to $405.
The research firm cited MongoDB’s increased financial guidance for fiscal year 2026 as the primary reason for the higher valuation. MongoDB now expects sales of $2.34-2.36 billion for the full fiscal year, up from its previous forecast of $2.250-2.290 billion. According to InvestingPro data, the company maintains strong financial health with a current ratio of 5.89 and minimal debt, holding more cash than debt on its balance sheet.
For the third quarter of fiscal year 2026, MongoDB projects revenue between $587-592 million, which exceeds the Street consensus of $582.6 million. The company also forecasts an operating profit of $66-70 million and earnings per share of $0.76-0.79 for the quarter. InvestingPro analysis reveals 8 additional key insights about MongoDB’s financial position and growth prospects, available to subscribers.
Following MongoDB’s guidance update, Monness Crespi Hardt revised its own estimates upward. The firm now forecasts third-quarter revenue of $616.9 million, representing 17% growth, and increased its earnings per share estimate to $1.04 from $1.03.
For the full fiscal year 2026, Monness Crespi Hardt raised its sales projection to $2.407 billion, reflecting 20% growth, and increased its earnings per share estimate to $4.22 from $4.11.
In other recent news, MongoDB has reported a strong fiscal second-quarter performance, with its Atlas cloud database service exceeding expectations by $20 million, marking a 5% increase. This contributed to an overall 7% revenue beat, the largest since the fiscal third quarter of 2024. The robust performance has led several analyst firms to adjust their price targets for MongoDB. Truist Securities raised its target to $330, citing exceptional second-quarter results. BMO Capital increased its target to $315, highlighting the impressive $42 million quarter-over-quarter growth in Atlas revenue, which far surpassed their estimate.
UBS also raised its price target to $310, noting improved performance compared to the previous quarter’s macro-based challenges. Piper Sandler set a new target of $345, emphasizing the strong demand for MongoDB’s cloud database and the accelerating growth in Atlas, which showed an 11% quarter-over-quarter increase. Meanwhile, KeyBanc reiterated its Sector Weight rating, acknowledging the company’s significant outperformance in both its Atlas and non-Atlas businesses. These developments reflect MongoDB’s continued momentum and strong market position.
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