William Blair analyst Jason Ader has maintained their bullish stance on MDB stock, giving a Buy rating on April 23.
Jason Ader has given his Buy rating due to a combination of factors, including the recent appointment of Mike Berry as MongoDB’s new CFO. Berry brings over 30 years of experience in the technology and software industry, having served as CFO for several prominent companies. His expertise and proven track record in scaling technology businesses make him a valuable addition to MongoDB’s leadership team.
Additionally, Ader highlights MongoDB’s current valuation as attractive, with the stock trading at a lower multiple compared to its peers. Despite near-term growth pressures, the company is poised for a multiyear growth trajectory, supported by its low market share and anticipated benefits from generative AI. Ader also emphasizes MongoDB’s competitive advantages, such as its technical superiority, strong developer community, and independence from cloud platforms, which position it well to disrupt the substantial operational database market.
In another report released on April 23, Piper Sandler also maintained a Buy rating on the stock with a $200.00 price target.