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Investing.com -- MongoDB’s investor session at its New York event on Wednesday showcased a series of product updates and strategy highlights, but left some analysts cautious about the company’s long-term financial targets.
DA Davidson said the company introduced several new features, including “the extension of some Atlas-only features to Community Edition & EA, as well as the launch of the Application Modernization Platform (AMP).”
The firm added that “conversations with customers were positive & continue to validate our long-term thesis, though GenAI use cases are still not taking off.”
KeyBanc pointed to similar updates, citing “AMP for accelerating relational database migrations, the 8.2 release for faster performance, and vector search now available in the Community and EA editions.”
Both firms said management reinforced its message that MongoDB’s document model is better suited for modern workloads, including AI.
On the financial side, expectations were more muted. MongoDB stated: “While financial targets for high-teens growth and 100-200 bps of EBIT margin expansion per year over the next 3-5 years was largely consistent with consensus estimates -- although the latter potentially below investor expectations.”
DA Davidson noted that the “3-5 year targets were a bit disappointing,” falling short of what some investors had anticipated. KeyBanc similarly said the guidance “was largely consistent with consensus estimates — although the latter potentially below investor expectations.”
Despite those reservations, DA Davidson reaffirmed a Buy rating on the stock, raising its price target from $325 to $365. KeyBanc also said the event reinforced the company’s positioning, though it noted “AI = still early.”