10 Best AI Software Stocks to Buy Right Now

6. MongoDB, Inc. (NASDAQ:MDB)

Number of Hedge Fund Holders: 89

MongoDB, Inc. (NASDAQ:MDB) is one of the best AI stocks in the software industry to buy now. On January 30, BofA Securities raised its price target on MongoDB, Inc. (NASDAQ:MDB) from $480 to $500 and kept its Buy rating.

The research firm pointed to MongoDB, Inc.’s (NASDAQ:MDB) Atlas business, which reported 30% year-over-year revenue growth in the third fiscal quarter, compared with 29% in the second quarter. BofA Securities also highlighted the company’s successful dual strategy of top-down enterprise sales and bottom-up product-led growth. The firm noted that MongoDB, Inc. (NASDAQ:MDB) continues to expand its product portfolio for AI and modernization of legacy applications.

Earlier, on January 20, Stifel analyst Brad Reback also reiterated a Buy rating on MongoDB, Inc. (NASDAQ:MDB) following the company’s user conference in San Francisco. During the event, the company announced several new AI capabilities.

The firm’s analyst pointed out that MongoDB, Inc.’s (NASDAQ:MDB) Atlas users will now be able to directly use Voyage AI models. This will strengthen the platform’s AI capabilities and add more value for existing users.

MongoDB, Inc. (NASDAQ:MDB) is an American software company that is known for its globally distributed database platform that supports applications with integrated capabilities for operational data, search, real-time analytics, and AI-powered data retrieval.