Needham raised the firm’s price target on MongoDB (MDB) to $500 from $480 and keeps a Buy rating on the shares. The firm highlights MongoDB a Top Pick in 2026 and added the stock to its Conviction List. It removed GitLab (GTLB) from the list. MongoDB posted improved results throughout fiscal 2026 with reaccelerating Atlas growth, the analyst tells investors in a research note. The firm expects the company to exit fiscal 2026 with more than $2B of Atlas annual recurring revenue, with line of sight to over $2.5B in fiscal 2027. Needham thinks MongoDB’s “technological leadership and stickiness among customers” at the database layer provides a “strong position to drive durable growth.”
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MDB:
- MongoDB: Re-Accelerating Atlas Growth, Enhanced Revenue Visibility, and AI Tailwinds Support Top-Pick Buy Rating and $500 Target for 2026
- MongoDB price target raised to $490 from $450 at Oppenheimer
- MongoDB price target raised to $500 from $450 at RBC Capital
- MongoDB: Reaccelerating Growth and Strengthening Fundamentals Position It as a Key Beneficiary of Enterprise AI
- Private Markets: OpenAI seeks to raise as much as $100B at $830B valuation