EU and US could reach trade deal this weekend - Reuters
On Thursday, Truist Securities reaffirmed its Buy rating for MongoDB (NASDAQ:MDB) stock, maintaining a price target of $275.00. The decision follows MongoDB’s strong first-quarter earnings performance for fiscal year 2026, which exceeded expectations. The company, currently valued at $18.64 billion, has demonstrated robust revenue growth of 19.22% and maintains a healthy gross profit margin of 73.32%.
The company’s results were supported by balanced growth across its Atlas and EA platforms. Truist Securities noted that MongoDB’s revised annual revenue guidance appeared conservative, possibly due to the new Chief Financial Officer Mike Berry having been in his role for just over a week. According to InvestingPro analysis, MongoDB maintains strong financial health with a current ratio of 5.2, indicating robust liquidity. Get access to 10+ more exclusive ProTips and comprehensive analysis with InvestingPro.
Truist Securities analysts believe that consistent performance in Atlas and EA could provide additional growth opportunities for MongoDB throughout the year. During the earnings call, Mr. Berry emphasized the potential for operating leverage within the company.
The firm updated its estimates based on new data from MongoDB’s earnings report and reiterated its confidence in the company’s future prospects by maintaining the Buy rating and price target.
In other recent news, MongoDB reported its financial projections for the second quarter of fiscal year 2026, estimating sales between $548 million and $553 million and earnings per share (EPS) of $0.62 to $0.66. For the full fiscal year, the company expects sales of $2.250 billion to $2.290 billion and EPS of $2.94 to $3.12. Analyst firms have reacted positively to these developments, with Monness, Crespi, Hardt upgrading MongoDB’s stock rating to Buy and setting a new price target of $295. Similarly, Stifel analysts maintained a Buy rating with a $275 price target, citing MongoDB’s strong quarterly performance and improved customer acquisition. Loop Capital adjusted its price target to $230, noting the solid growth of MongoDB’s Cloud Atlas business. Piper Sandler also raised its price target to $275, maintaining an Overweight rating due to the accelerated growth of the Atlas platform. Meanwhile, Scotiabank (TSX:BNS) increased its price target to $230 but kept a Sector Perform rating, highlighting competitive pressures. These updates reflect MongoDB’s strategic initiatives and growth prospects amidst a competitive landscape.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.