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Investing.com - RBC Capital has raised its price target on MongoDB (NASDAQ:MDB) to $405 from $350 while maintaining an Outperform rating ahead of the company’s third-quarter fiscal 2026 earnings report. The new target represents significant upside from the current price of $369.05, with MongoDB shares already showing a strong 58.52% year-to-date return according to InvestingPro data.
The database software company is scheduled to release its quarterly results on Monday, December 1st, with an earnings call set for 5:00 PM EST. InvestingPro data shows analysts expect MongoDB to be profitable this fiscal year with an EPS forecast of $3.98, despite not being profitable over the last twelve months.
RBC Capital analyst Rishi Jaluria indicated that MongoDB is expected to deliver "solid results highlighted by continued Atlas momentum," referring to the company’s cloud database service.
The firm believes current investor concerns about competitive pressure from PostgreSQL are "overblown" and that MongoDB shares present a "compelling risk/reward" opportunity.
MongoDB stock has faced market scrutiny regarding competition in the database market, but RBC maintains its positive outlook on the company’s performance and growth prospects.
In other recent news, MongoDB has announced a significant leadership change with the appointment of Chirantan "CJ" Desai as its new President and CEO, effective November 10, 2025. This leadership transition follows the retirement of long-serving CEO Dev Ittycheria. MongoDB has reported strong third-quarter performance, with expectations to exceed its guidance for revenue, operating income, and earnings per share, according to Goldman Sachs. In light of these developments, several financial firms have adjusted their price targets for MongoDB.
Citizens has raised its price target to $435, maintaining a Market Outperform rating. Goldman Sachs has also increased its price target to $405, citing the company’s strong performance indicators. Truist Securities has adjusted its price target to $400, while Canaccord Genuity has raised its target to $375, highlighting MongoDB’s potential in the AI application cycle. These adjustments reflect confidence in MongoDB’s strategic direction and leadership transition.
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