BofA Remains Bullish on MongoDB (MDB) – Here’s Why

MongoDB, Inc. (NASDAQ:MDB)  is one of the best big tech stocks to buy according to Wall Street analysts. BofA lifted the price target on MongoDB, Inc. (NASDAQ:MDB) to $450 from $390 on June 8 and reaffirmed a Buy rating on the shares. The firm cited increased confidence in the demand environment and the infrastructure software peer group multiple expansion.

Cantor Fitzgerald Raises MongoDB (MDB) Price Target on Stable Outlook and AI Demand

The rating update came after MongoDB, Inc. (NASDAQ:MDB) reported its financial results for fiscal Q1 2027, with total revenue for the quarter coming up to $687.6 million, up 25% year-over-year. Subscription revenue reached $666.1 million, reflecting an increase of 25% year-over-year, while services revenue was $21.5 million, an increase of 22% year-over-year.

The company further reported that gross profit for fiscal Q1 2027 was $496.2 million, representing a 72% gross margin compared to 71% in the year-ago period, while non-GAAP gross profit was $512.2 million, representing a 74% non-GAAP gross margin and consistent with the year-ago period. MongoDB, Inc. (NASDAQ:MDB) reported $24.8 million in loss from operations in the quarter, compared to a loss from operations of $53.6 million in the year-ago period.

MongoDB, Inc. (NASDAQ:MDB) is involved in the development and provision of a general-purpose database platform, with its products including MongoDB Enterprise Advanced, MongoDB Atlas, and Community Server. The company also offers professional services, including consulting and training.

While we acknowledge the risk and potential of MDB as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than MDB and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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