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Investing.com - KeyBanc maintained its Sector Weight rating on MongoDB (NASDAQ:MDB), currently valued at $25.66 billion, following the company’s MongoDB .Local event, according to a research note published Thursday. InvestingPro data shows the stock trading near its Fair Value, with 30 analysts recently revising earnings estimates upward.
The database company unveiled several key product announcements during the event, including AMP for accelerating relational database migrations, the 8.2 release for faster performance, and vector search now available in Community and EA editions.
During the investor session, MongoDB reiterated its messaging on why its document model is better suited for modern workloads and artificial intelligence applications compared to traditional database approaches.
The company confirmed its financial targets of high-teens growth and 100-200 basis points of EBIT margin expansion annually over the next 3-5 years, which KeyBanc noted was largely consistent with consensus estimates but potentially below investor expectations. For deeper insights into MongoDB’s growth potential and comprehensive analysis, access the full Pro Research Report available on InvestingPro.
Management characterized the company’s artificial intelligence initiatives as "still early" in their development, according to KeyBanc analyst Eric Heath’s research note.
In other recent news, MongoDB has seen a series of upgrades in its stock price targets from several analyst firms. Goldman Sachs raised its price target for MongoDB to $370, maintaining a Buy rating, following their attendance at MongoDB’s Investor Day events. Similarly, DA Davidson increased its target to $365, highlighting new product updates and the launch of the Application Modernization Platform. Guggenheim also raised its target to $400, maintaining a Buy rating, and expects MongoDB to outline growth drivers for its Atlas platform, with projections for significant revenue growth by fiscal year 2028. Wedbush matched this target increase to $400, citing MongoDB’s focus on enterprise opportunities as a key factor.
Additionally, MongoDB announced the extension of its search and vector search capabilities to its Community Edition and Enterprise Server products, features previously exclusive to its Atlas platform. This move allows developers to build AI applications on local infrastructure, expanding their development options beyond the cloud. These developments reflect a period of strategic enhancements and positive analyst outlooks for MongoDB.
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