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Investing.com - Truist Securities raised its price target on MongoDB (NASDAQ:MDB) to $375.00 from $330.00 on Thursday, while maintaining a Buy rating on the database software company’s stock. The company, currently valued at $25.58 billion, has demonstrated strong momentum with a 67.15% price return over the past six months and maintains robust financials with a healthy current ratio of 5.7.
The price target increase follows MongoDB’s 2025 investor day and .local NYC event, which Truist Securities attended and came away with "incremental optimism" about the consumption trends the company is experiencing.
During the investor session, MongoDB CFO Mike Berry presented a financial framework and a 3-5 year model that indicates durable growth and expanding margins for the company.
Truist Securities noted that MongoDB’s investor session placed significant focus on the company’s platform capabilities and artificial intelligence opportunities, supported by customer testimonials.
Based on the information presented at these events, Truist Securities has increased its estimates for MongoDB’s future performance, leading to the higher price target.
In other recent news, MongoDB has seen a series of updates from various investment firms regarding its stock price target and ratings. Piper Sandler increased its price target for MongoDB to $400, maintaining an Overweight rating, citing the company’s vision to achieve $5 billion in revenue and its path to the Rule of 40. Meanwhile, BMO Capital raised its price target to $365, following insights gained from MongoDB’s Analyst event, and kept an Outperform rating. UBS adjusted its price target to $330, maintaining a Neutral rating after attending MongoDB’s annual customer conference, where the company’s growth outlook for the next 3-5 years was discussed.
Macquarie raised its price target to $305, citing stable usage trends and a growing Atlas base, while maintaining a Neutral rating. RBC Capital reiterated its $350 price target and Outperform rating after MongoDB’s 2025 investor session and user conference. During the event, MongoDB management highlighted its long-term framework and the launch of its Application Modernization Platform, emphasizing its potential in AI workloads. These developments reflect a general positive sentiment among analysts regarding MongoDB’s growth prospects and strategic initiatives.
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