Monness upgrades MongoDB with Atlas out of ‘growth slump’

Monness Crespi upgraded MongoDB (MDB) to Buy from Neutral with a $295 price target The company last night reported Q1 upside, issued a “healthy” Q2 outlook, raised its fiscal 2026 guidance, and announced a new $800M stock repurchase program, the analyst tells investors in a research note. The firm says that after sinking 43% in 2024, the stock has declined another 14% this year, creating an attractive valuation at current levels. Atlas exited its “protracted growth slump” in Q1, and MongoDB will emerge an important beneficiary of the long-term generative artificial intelligence trend, contends Monness. As such, the firm believes the shares are “worthy of a rally.”