MongoDB Inc (NASDAQ:MDB) shares climbed in early trading on Tuesday after the company reported upbeat fiscal third-quarter results.
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Here are some key analyst takeaways:
- Cantor Fitzgerald analyst Thomas Blakey reaffirmed an Overweight rating, while lifting the price target from $406 to $454.
- RBC Capital Markets analyst Rishi Jaluria maintained an Outperform rating, while raising the price target from $405 to $450.
- Goldman Sachs analyst Matthew Martino reiterated a Buy rating, while taking the price target higher from $405 to $475.
- Wedbush analyst Dan Ives reaffirmed an Outperform rating, while lifting the price target from $400 to $440.
- Guggenheim Securities analyst Howard Ma maintained a Buy rating, while raising the price target from $400 to $450.
- Citizens JMP Securities analyst Patrick Walravens reiterated a Market Outperform rating, while taking the price target higher from $435 to $475.
- Scotiabank analyst Patrick Colville reaffirmed a Sector Perform rating, while lifting the price target from $320 to $415.
- Needham analyst Mike Cikos maintained a Buy rating, while raising the price target from $365 to $480.
- Rosenblatt Securities analyst Blair Abernethy reiterated a Buy rating, while lifting the price target from $385 to $425.
Check out other analyst stock ratings.
Cantor Fitzgerald: MongoDB delivered a beat-and-raise quarter, "driven by broad strength across Atlas and more so by Enterprise Advanced (EA)," Blakey said in a note. The company reported "impressive" operating margins of around 20% and its guidance for the fiscal fourth quarter implies around 21%, he added.
Some operating expenses have been pushed out to the fourth quarter and to fiscal 2027 the analyst stated. "We continue to view MongoDB as well-positioned to benefit from increased investment in modernizing corporate data stacks to take advantage of AI/agentic AI," he further wrote.
RBC Capital Markets: MongoDB's revenues grew 19% year-on-year to $628.3 million, beating consensus of $593.9 million, Jaluria said. Non-GAAP earnings came in at $1.32 per share, topping estimates of 81 cents per share, he added.
Atlas growth accelerated to 30% year-on-year, driving non-GAAP operating margins to 20%, the analyst stated. "Execution remains strong under new CEO CJ Desai, who emphasized MongoDB’s expanding role as a unified data platform for mission-critical and Al workloads," he further wrote.
Goldman Sachs: MongoDB delivered a "standout quarter," with revenue topping consensus by 5.8%, Martino said. Revenue growth at Atlas accelerated for the third consecutive quarter to 30%, from 29% in the previous quarter, he added.
Atlas consumption trends remained healthy "as more strategic workloads from larger enterprises grow higher-for-longer and customers standardize with strategic multi-year EA commitments," the analyst wrote. The company's non-Atlas business also outperformed mainly due to higher multi-year deals, he further stated.
Wedbush: MongoDB delivered a third-quarter beat across the board, Ives said. The company added more than 2,500 net new customers, "while seeing existing customers continue to expand their spend with customers spending $100k ARR reaching 2,694," from 2,564 in the previous quarter, he wrote.
Management guided to revenues of $587-$592 million for the fourth quarter, with subscription revenues of $609.1 million coming in above consensus of $574.8 million, the analyst stated. The company's guidance for fiscal 2026 again came in significantly ahead of Street expectations, he added.
Guggenheim Securities: Atlas New ARR (annual recurring revenue) growth is likely to have reached 40%, accelerating from 34% in the fiscal second quarter, Ma said. Management indicated that Atlas consumption trends remained in line with seasonal patterns, he added.
Non-Atlas revenues declined 8% year-on-year to $138 million but came in higher than consensus of $119 million, the analyst stated. Non-Atlas ARR grew 8%, which management attributed to "continued strength from their largest customers in the US, as well as broad-based strength in EMEA," he further wrote.
Citizens JMP Securities: MongoDB's guidance came in much better than expected, both for the fourth quarter and fiscal 2026, Walravens said. Management's revenue outlook for the fourth quarter came at $665-$670 million, implying growth of around 22% at the midpoint and topping consensus of $626 million, he added.
The company guided to non-GAAP earnings of $1.44-$1.48 per share, higher than consensus of 94 cents per share, the analyst stated. For the full-year management guided to revenue of $2.434-$2.439 billion and non-GAAP earnings of $4.76-$4.80 per share, versus consensus of $2.361 billion and $3.77 per share, respectively, he said.
Scotiabank: MongoDB delivered impressive third-quarter results, with reacceleration in Atlas growth, Colville said. Profitability "massively surprised to the upside," he wrote.
The guidance for the fiscal fourth quarter suggests durable strength in both revenue and profit, the analyst stated. "All in all a deeply impressive swan song for Ittycheria, after 11 years leading MongoDB, and a nice platform for newly appointed CEO Desai to build upon," he further wrote.
Needham: MongoDB reported its third-quarter results ahead of guidance "on every metric," Cikos said. The 30% year-on-year Atlas growth met elevated expectations, he added.
"Furthermore, on a Days-Adjusted basis, Atlas trends were consistent, climbing 7.3% qtr.-qtr.," the analyst wrote. Non-Atlas revenue also contributed to the beat, with around two-thirds of the outperformance coming in from multi-year licenses, he further stated.
Rosenblatt Securities: MongoDB reported a "solid" third-quarter upside, with a revenue growth of 19% year-on-year, more multi-year renewal deals than expected and Atlas consumption growth of 30%, Abernethy said.
"We believe Mongo is seeing solid uptake of MongoDB 8.0+, which has significant performance improvements and is leading enterprises to expand their Mongo usage for application modernization," he further wrote.
MDB Price Action: Shares of MongoDB had rose by 23.75% to $406.97 at the time of publication on Tuesday.
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