Balanced Risk-Reward Amid Slowing Atlas Momentum and Competitive Pressures at MongoDB

Robert W. Baird analyst William Power downgraded the rating on MongoDB to a Hold today, setting a price target of $260.00.

William Power has given his Hold rating due to a combination of factors, including concerns over the sustainability of MongoDB’s growth in its core Atlas business. Atlas revenue rose 29% and topped guidance, but the pace slowed from the prior quarter and fell short of investors’ expectations for continued acceleration, leaving the stock vulnerable if this key engine continues to decelerate.

At the same time, MongoDB’s long-term story remains attractive, with strong overall revenue growth, expanding profitability, and a large RPO balance that supports future visibility. However, limited near-term AI revenue, intensifying competitive pressures, multiple go-to-market leadership changes, and a valuation premium to SaaS peers create enough uncertainty that Power views the risk‑reward as balanced rather than compellingly positive.

According to TipRanks, Power is a 5-star analyst with an average return of 15.7% and a 54.00% success rate. Power covers the Technology sector, focusing on stocks such as Apple, Snowflake, and Palantir Technologies.

In another report released today, TipRanks – xAI also downgraded the stock to a Hold with a $348.00 price target.