DA Davidson Reiterates Buy Rating on MongoDB (MDB), Keeps PT

On June 5, DA Davidson analysts reiterated a ‘Buy’ rating on MongoDB Inc. (NASDAQ:MDB) stock and stuck with the $275 price target. The analysts asserted the rating and price target in response to the company’s robust performance in the first quarter.

MongoDB delivered Atlas and Non-Atlas revenue that topped analysts’ expectations, contributing to a 19.2% year-over-year revenue increase. The company achieved non-GAAP earnings per share of $1.00, better than $0.66 expected. Revenue in the quarter totaled $549 million, above the $528.2 million expected.

While Atlas consumption remained under pressure in April, it bounced back in May. On the other hand, Atlas’s growth accelerated by 26% compared to 24% in the first quarter of last year.

Following the better-than-expected first quarter results, MongoDB raised its fiscal year 2026 guidance due to some non-Atlas timing advantages realized in the quarter.  It now expects full-year revenue to range between $2.25 billion and $2.29 billion, signaling confidence in continued growth.

The company also increased its operating profit projections to affirm improvements in operational efficiency. DA Davidson reaffirmed the Buy rating buoyed by the company’s strategic focus on operational efficiency.

MongoDB is a company that develops and supports the MongoDB database, a popular NoSQL database known for its flexibility and scalability. It provides a multi-cloud developer data platform, including cloud-based services like MongoDB Atlas, and caters to a wide range of industries, including financial services, telecommunications, and healthcare.

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Disclosure: None.