Analyst Mike Cikos of Needham maintained a Buy rating on MongoDB, boosting the price target to $325.00.
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Mike Cikos has given his Buy rating due to a combination of factors, primarily driven by MongoDB’s impressive financial performance. The company exceeded revenue expectations by 7%, largely due to a significant increase in Atlas consumption, which saw a year-over-year growth acceleration of 29%. Additionally, MongoDB benefited from approximately $10 million in revenue from multi-year license deals that performed better than anticipated.
MongoDB’s strategic efforts to target larger market segments have been fruitful, as evidenced by the growing workloads with major U.S. clients, which are expanding more robustly than previous groups. This strong performance has provided management with the confidence to project a mid-20% year-over-year growth for fiscal year 2026. Consequently, the firm has maintained its Buy rating and increased the price target to $325.
Based on the recent corporate insider activity of 86 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MDB in relation to earlier this year.