MongoDB stock rises as Citizens JMP maintains outperform rating

Published 05/06/2025, 10:02
MongoDB stock rises as Citizens JMP maintains outperform rating

On Thursday, Citizens JMP analysts reaffirmed their Market Outperform rating on MongoDB (NASDAQ:MDB) stock, maintaining a price target of $345, representing a potential 73% upside from the current price of $199.73. This decision follows MongoDB’s recent financial performance, which exceeded market expectations. According to InvestingPro data, analyst consensus remains bullish with price targets ranging from $160 to $430.

The company reported earnings for its first fiscal quarter of 2026, achieving a non-GAAP earnings per share of $1.00, surpassing the consensus estimate of $0.66. MongoDB’s revenue reached $549 million, also exceeding the consensus forecast of $528.2 million. InvestingPro analysis shows the company maintains strong financial health with a 5.2x current ratio and holds more cash than debt on its balance sheet.

MongoDB’s year-over-year revenue increased by 22%, marking an acceleration from the 20% growth observed in the previous quarter. This growth was driven by the company’s Atlas revenue, which grew by 26%, up from 25% in the last quarter.

The company’s non-GAAP operating margin stood at 15.9%, significantly higher than the consensus estimate of 10.8%. This performance underpins the analysts’ decision to maintain their positive outlook on MongoDB stock.

In other recent news, MongoDB reported impressive financial results for the first quarter of fiscal year 2026, surpassing Wall Street expectations. The company achieved earnings per share of $1, compared to the forecasted $0.66, and reported revenue of $549 million, exceeding the anticipated $528.07 million. MongoDB’s revenue grew by 22% year-over-year, driven by the strong performance of its cloud database service, Atlas, which now accounts for 72% of total revenue. Following these results, MongoDB raised its full-year revenue guidance to a range of $2,250-$2,290 million, indicating confidence in sustained growth. Additionally, MongoDB announced a significant expansion of its share repurchase program, with authorization to repurchase up to an additional $800 million of common stock, bringing the total authorization to $1 billion. The company also highlighted its strategic focus on AI capabilities and application modernization, with plans to invest in these areas to capture market opportunities. In terms of leadership, MongoDB introduced Mike Barry as the new CFO, bringing over 30 years of experience in technology and software. These developments reflect MongoDB’s strong market position and strategic initiatives aimed at maintaining its growth trajectory.

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