Analyst Sanjit Singh from Morgan Stanley maintained a Buy rating on MongoDB and keeping the price target at $325.00.
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Sanjit Singh has given his Buy rating due to a combination of factors that highlight MongoDB’s potential for durable and profitable growth. The company is strategically positioned to capitalize on a significant market opportunity exceeding $100 billion, driven by its innovative document model architecture, which is well-suited for modern AI applications. MongoDB’s management is confident in their ability to scale the business from its current revenue of over $2 billion to more than $5 billion by continuing to move up-market and securing larger, strategic deals.
Sanjit Singh’s rating is also influenced by MongoDB’s strong product innovation and effective self-service initiatives, which are expected to enhance customer success and drive growth. The company’s focus on AI applications and the newly announced application modernization platform are anticipated to be key growth drivers, although these opportunities will take time to fully materialize. Despite this, the underlying momentum from high-quality workloads is expected to sustain growth in the interim, with long-term targets indicating sustained revenue growth and significant free cash flow expansion over the next several years.
In another report released today, Needham also maintained a Buy rating on the stock with a $365.00 price target.
MDB’s price has also changed dramatically for the past six months – from $188.680 to $316.300, which is a 67.64% increase.