MongoDB price target raised to $450 from $385 at Oppenheimer

Oppenheimer analyst Ittai Kidron raised the firm’s price target on MongoDB (MDB) to $450 from $385 and keeps an Outperform rating on the shares. The firm notes MongoDB delivered strong Q3 results and raised FY26 guidance on broad-based demand and steady consumption. Atlas revenue growth continued to accelerate, new customer additions remained high, and the increased focus on direct customer engagement is driving enterprise gains. While some of the outperformance reflects higher than expected non-Atlas multi-year renewals, the overall strength of the quarter reinforces Oppenheimer’s confidence in the technical merits of MongoDB’s platform and opportunity to gain share as enterprise’s incorporate AI/Agentic-AI capabilities. The firm sees this as a multi-year opportunity that’s well aligned with management’s longer-term targets.