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Investing.com - Truist Securities raised its price target on MongoDB (NASDAQ:MDB) to $400.00 from $375.00 while maintaining a Buy rating on the stock. The new target sits just below the Street’s high target of $430, with MongoDB currently trading at $363.67, near its 52-week high of $370. InvestingPro data shows the stock’s RSI suggests it’s in overbought territory.
MongoDB announced the retirement of its CEO Dev Ittycheria after 11 years of service, with Chirantan "CJ" Desai appointed as the new President and CEO effective November 10.
The database software company also provided a business update, stating it expects to exceed the high end of its third-quarter fiscal 2026 guidance for revenue, driven by strength in its Atlas cloud database service.
MongoDB further indicated it anticipates exceeding guidance for profitability across non-GAAP operating income and earnings per share for the quarter.
Truist Securities noted that while Ittycheria’s departure is regrettable, Desai brings "a wealth of enterprise experience" that aligns with MongoDB’s current strategic direction, prompting the firm to increase its estimates and price target. According to InvestingPro analysis, MongoDB appears overvalued compared to its Fair Value, though the company maintains strong financial health with more cash than debt and liquid assets exceeding short-term obligations. Discover 14 additional ProTips and comprehensive analysis in MongoDB’s Pro Research Report, available with an InvestingPro subscription.
In other recent news, MongoDB announced that Chirantan "CJ" Desai will take over as President and Chief Executive Officer on November 10, 2025. Desai brings experience from Cloudflare, where he served as President of Product and Engineering, and from ServiceNow, where he significantly contributed to the company’s revenue growth. Meanwhile, Canaccord Genuity, JMP Securities, and Truist Securities have all raised their price targets for MongoDB to $375, maintaining a positive outlook on the company’s stock. Canaccord Genuity emphasized MongoDB’s potential in the AI application cycle, while Truist Securities expressed optimism following MongoDB’s recent investor day and event in NYC. Scotiabank also increased its price target to $320, highlighting the company’s healthy momentum after engaging with multiple MongoDB customers. These developments indicate a strong interest and confidence in MongoDB’s future performance among analysts.
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