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Wall Street JournalThese Analysts Boost Their Forecasts On MongoDB After Better-Than-Expected Q3 Results
MongoDB Inc. (NASDAQ:MDB) reported better-than-expected third-quarter financial results and raised its FY26 guidance above estimates on Monday.
MongoDB posted third-quarter revenue of $628.31 million, beating analyst estimates of $591.52 million, according to Benzinga Pro. The data platform company reported third-quarter adjusted earnings of $1.32 per share, beating analyst estimates of 80 cents per share.
"MongoDB delivered strong third quarter results that exceeded the high-end of our guidance driven by continued strength in Atlas, which saw growth accelerate to 30% year-over-year. We also delivered meaningful margin outperformance as we executed on our plan to drive profitable growth. Reflecting this strength, we are raising our guidance on the top and bottom line for the rest of the year," said CJ Desai, president and CEO of MongoDB.
MongoDB expects fourth-quarter revenue to be in the range of $665 million to $670 million versus estimates of $625.12 million. The company also guided for second-quarter adjusted earnings of $1.44 to $1.88 per share versus estimates of 93 cents per share.
MongoDB raised its revenue guidance for fiscal 2026 to a range of $2.43 billion to $2.44 billion, up from prior guidance of $2.34 billion to $2.36 billion. Analysts are looking for full-year revenue of $2.36 billion. The company also raised its fiscal 2026 adjusted earnings guidance from a range of $3.64 to $3.73 per share to a new range of $4.76 to $4.80 per share versus estimates of $3.71 per share.
MongoDB shares rose 23.6% to trade at $406.50 on Tuesday.
These analysts made changes to their price targets on MongoDB following earnings announcement.
- Piper Sandler analyst Hannah Rudoff reiterated MongoDB with an Overweight rating and raised the price target from $400 to $490.
- Needham analyst Mike Cikos maintained the stock with a Buy and raised the price target from $365 to $480.
- Rosenblatt analyst Blair Abernethy maintained MongoDB with a Buy and raised the price target from $385 to $425.
- Citizens analyst Patrick Walravens maintained the stock with a Market Outperform and raised the price target from $435 to $475.
- Cantor Fitzgerald analyst Thomas Blakey maintained MongoDB (NASDAQ:MDB) with an Overweight rating and boosted the price target from $406 to $454.
- RBC Capital analyst Rishi Jaluria maintained the stock with an Outperform rating and raised the price target from $405 to $450.
- Scotiabank analyst Patrick Colville maintained MongoDB with a Sector Perform and raised the price target from $320 to $415.
- Barclays analyst Raimo Lenschow maintained the stock with an Overweight rating and boosted the price target from $390 to $415.
- B of A Securities analyst Bradley Sills maintained MongoDB with a Buy and raised the price target from $440 to $480.
- Guggenheim analyst Howard Ma maintained the stock with a Buy and raised the price target from $400 to $450.
- Bernstein analyst Firoz Valliji maintained MongoDB with an Outperform rating and increased the price target from $338 to $452.
- Wells Fargo analyst Ryan Macwilliams maintained the stock with an Overweight rating and boosted the price target from $430 to $450.
- UBS analyst Karl Keirstead maintained MongoDB with a Neutral and raised the price target from $330 to $440.
- Canaccord Genuity analyst Kingsley Crane maintained the stock with a Buy and increased the price target from $375 to $455.
- DA Davidson analyst Rudy Kessinger maintained the stock with a Buy and raised the price target from $415 to $465.
- Mizuho analyst Matthew Broome maintained MongoDB with a Neutral and raised the price target from $250 to $310.
- Macquarie analyst Steve Koenig maintained the stock with a Neutral and increased the price target from $305 to $385.
- Truist Securities analyst Miller Jump maintained MongoDB with a Buy and raised the price target from $400 to $450.
- Stifel analyst Brad Reback maintained the stock with a Buy and raised the price target from $375 to $450.
- BMO Capital analyst Keith Bachman maintained MongoDB with an Outperform rating and raised the price target from $415 to $455.
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