In a report released today, Brian White from Monness maintained a Buy rating on MongoDB, with a price target of $370.00.
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Brian White has given his Buy rating due to a combination of factors, including solid expected growth and resilient fundamentals. He anticipates MongoDB will deliver strong top-line expansion with healthy profitability, viewing the company as well positioned to benefit from long-term trends in databases, cloud adoption, and generative AI despite heightened competitive intensity and macro uncertainty.
He also believes the Street’s forecasts are too conservative relative to his projections for revenue and earnings over the coming quarters and fiscal year. Moreover, he highlights encouraging cloud and consumption trends that should support MongoDB Atlas, reinforcing confidence in the durability of the business model and justifying maintaining a $370 price target, unchanged from his prior view.
According to TipRanks, White is a 5-star analyst with an average return of 15.8% and a 66.60% success rate. White covers the Technology sector, focusing on stocks such as Snowflake, Twilio, and Salesforce.
In another report released yesterday, RBC Capital also maintained a Buy rating on the stock with a $395.00 price target.