MongoDB stock price target raised to $365 from $315 at BMO Capital

Investing.com - BMO Capital raised its price target on MongoDB (NASDAQ:MDB) to $365 from $315 while maintaining an Outperform rating on the stock. The company, currently trading at $313.78, has demonstrated strong financial health with a robust current ratio of 5.7 and impressive revenue growth of 21.9% over the last twelve months.

The price target increase follows BMO Capital’s attendance at MongoDB’s Analyst event, where the firm gained insights into the company’s positioning and growth prospects.

BMO Capital believes MongoDB remains well positioned to generate durable growth in its Atlas platform, supported by improved execution and solid consumption trends, along with longer-term artificial intelligence opportunities.

The firm noted that MongoDB is likely to benefit from consolidated platform offerings, specifically highlighting vector search capabilities and Voyage AI’s embedding and re-ranking models.

BMO Capital also expressed confidence that MongoDB’s stock multiple can improve with solid growth and steadily improving operating and free cash flow margins.

In other recent news, MongoDB has been the subject of several analyst evaluations following its recent conferences and investor sessions. Cantor Fitzgerald increased its price target for MongoDB to $406, citing strong performance in its Atlas product and a focus on margin expansion. RBC Capital maintained its price target at $350, emphasizing MongoDB’s architecture’s potential in AI workloads and the launch of its Application Modernization Platform. UBS raised its price target to $330, reflecting insights from MongoDB’s annual customer conference regarding its growth outlook. Macquarie also lifted its target to $305, noting stable usage trends and a growing Atlas base. Meanwhile, Bernstein SocGen reiterated its Outperform rating with a price target of $338, following MongoDB’s analyst day presentations. These developments highlight a positive sentiment among analysts about MongoDB’s strategic positioning and product offerings.

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