MongoDB stock price target raised to $435 from $375 at Citizens

Investing.com - Citizens raised its price target on MongoDB (NASDAQ:MDB) to $435 from $375 on Tuesday, while maintaining a Market Outperform rating on the database software company’s stock.

The price target increase follows MongoDB ’s announcement of Chirantan "CJ" Desai as its new President and CEO, effective November 10, 2025. Desai’s appointment represents a significant leadership change for the cloud database provider.

MongoDB also reported financial results that exceeded the high end of its guidance for the fiscal third quarter of 2026, according to Citizens.

The positive news drove MongoDB shares up 3% on Tuesday, contributing to the stock’s 51% gain year-to-date. By comparison, the Russell 3000 index has increased 16% during the same period.

MongoDB offers a document-oriented database platform that has gained popularity among developers building modern applications, particularly those requiring flexible data models and scalable performance.

In other recent news, MongoDB has reported strong third-quarter performance indicators, prompting Goldman Sachs to raise its price target for the company to $405 while maintaining a Buy rating. This adjustment reflects expectations that MongoDB will exceed its third-quarter guidance in revenue, operating income, and earnings per share. Additionally, Truist Securities increased its price target to $400, also keeping a Buy rating, following the announcement of a leadership change. MongoDB has appointed Chirantan "CJ" Desai as the new President and CEO, effective November 10, succeeding Dev Ittycheria. Desai brings experience from Cloudflare and ServiceNow, where he contributed significantly to revenue growth. Canaccord Genuity also raised its price target to $375, citing MongoDB’s potential to capitalize on the AI application cycle. Meanwhile, Scotiabank increased its price target to $320, describing MongoDB’s momentum as healthy after engaging with several customers at a recent event. These developments highlight significant analyst confidence in MongoDB’s future prospects.

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