BMO Favors MongoDB (MDB) for Non-Relational Database Strength, Sets $280 Target

MongoDB Inc. (NASDAQ:MDB) is one of the best large-cap tech stocks to buy now. Although MongoDB’s core strength as a modern, document-based database and cloud data platform is still intact, it has been facing growth headwinds recently, especially since the results for the fourth quarter of FY 2025 (FY ends in January), when it provided a weaker guidance.

Its Q1 2026 results, reported on June 4, were a tad better. The company is aiming to secure larger enterprise deals, but questions around the durability of its growth trajectory persist.

That said, on July 28, BMO Capital’s Keith Bachman began coverage on MongoDB with an Outperform rating and a $280 price target. He views the company as a clear leader in the fast-expanding non-relational database market, underpinned by substantial technology advantages.

BMO Favors MongoDB (MDB) for Non-Relational Database Strength, Sets $280 Target

A database administrator managing a large database, ensuring the client’s data is secure.

Bachman also believes that the company’s potential to capitalize on the growing demand for generative AI workloads and applications could contribute meaningfully to the company’s growth in the coming years. This long-term positioning supports his constructive opinion on the stock despite near-term uncertainty.

MongoDB Inc. (NASDAQ:MDB) develops database software and provides database platforms for automating, monitoring, and deploying data.

While we acknowledge the potential of MDB to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than MDB and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.