Needham analyst Mike Cikos has maintained their bullish stance on MDB stock, giving a Buy rating yesterday.
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Mike Cikos has given his Buy rating due to a combination of factors that underscore MongoDB’s strength and growth potential. He points to the company’s improving execution in FY26, highlighted by a clear rebound in Atlas revenue growth and an anticipated exit run-rate exceeding $2.0 billion in Atlas ARR, with a credible path toward more than $2.5 billion in FY27. In addition, the recent transparency around Non-Atlas annual recurring revenue helps investors better understand and value the roughly quarter of subscription sales coming from these complementary offerings. Cikos believes MongoDB’s strong competitive position at the database layer, together with high customer stickiness, positions the company to sustain robust expansion in both Atlas and Non-Atlas segments as artificial intelligence workloads increasingly flow to its platform.
He also emphasizes confidence in the revitalized leadership team, whose strategic direction and disciplined operational execution support the case for ongoing profitable growth rather than growth at any cost. Cikos views the unfolding AI adoption cycle as an incremental tailwind that should enhance MongoDB’s growth profile over the medium term. Taken together, these elements—re-accelerating Atlas momentum, better visibility into Non-Atlas revenues, durable competitive advantages, and solid management execution—justify his decision to select MongoDB as a top pick for 2026 and to raise the price target to $500, supporting a Buy recommendation.
Cikos covers the Technology sector, focusing on stocks such as Okta, Confluent, and SentinelOne. According to TipRanks, Cikos has an average return of 10.3% and a 50.00% success rate on recommended stocks.
In another report released yesterday, RBC Capital also maintained a Buy rating on the stock with a $500.00 price target.