MongoDB price target raised to $488 from $340 at Argus

Argus analyst Joseph Bonner raised the firm’s price target on MongoDB (MDB) to $488 from $340 and keeps a Buy rating on the shares. Concerns over the company’s core consumption model’s susceptibility to macroeconomic volatility hit shares early in 2025, but they have begun to rebound on strong profit growth and its continued guidance raises, while the appointment of a well-respected new CEO may also have been a positive to market sentiment, the analyst tells investors in a research note. Argus adds that it expects MongoDB’s growth prospects to be driven by the company’s strong technology base, rapid innovation cycle and tuck-in acquisitions of critical new technologies that can accelerate enterprise GenAI adoption.