Analyst Tyler Radke from Citi maintained a Buy rating on MongoDB (MDB – Research Report) and decreased the price target to $330.00 from $430.00.
Tyler Radke has given his Buy rating due to a combination of factors, including MongoDB’s potential for growth and strategic positioning in the database management system market. Despite a more conservative guidance for FY26 reflecting weaker non-Atlas revenue and slower workload ramp-up, Radke remains confident in MongoDB’s growth story as customers continue to modernize their databases and integrate generative AI use cases.
Furthermore, Radke notes that MongoDB’s shares are trading at a low multiple compared to historical valuations, suggesting potential upside over the next 12 months. The recent acquisition of Voyager.ai is also seen as a move that could enhance MongoDB’s position in the market and expand its AI capabilities. Although MongoDB has been removed from the Citi Focus List due to investor sentiment and delayed growth reacceleration, Radke still considers it one of the top picks for 2025 and maintains a Buy/High Risk rating, albeit with a reduced target price of $330.
In another report released yesterday, Barclays also maintained a Buy rating on the stock with a $280.00 price target.