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MongoDB
(NASDAQ:MDB)
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Rating:76Outperform
Price Target:
$401.00
▲(52.25% Upside)
Action:Reiterated
Date:06/02/26
The score is driven primarily by strong financial quality (excellent free cash flow and minimal leverage) and a positive earnings-call setup with solid growth and margin expansion targets led by Atlas. Offsetting these strengths are weak valuation signals due to negative GAAP earnings and a technically overbought setup that increases near-term volatility risk.
Positive Factors
Cash generation & balance sheet
Sustained high operating and free cash flow with minimal leverage gives MongoDB durable financial flexibility. Strong cash conversion funds R&D, buybacks, and strategic investments without borrowing, lowering solvency risk and enabling multi‑quarter execution of growth and margin-expansion plans.
Negative Factors
Growth slowdown and near-breakeven profits
Revenue deceleration from prior hypergrowth to mid‑20s percent and near‑zero GAAP returns means less operating leverage headroom. If growth stalls further, sustaining margin expansion targets becomes harder; the company must convert Atlas scale into faster profit recovery to lock in durable returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation & balance sheet
Sustained high operating and free cash flow with minimal leverage gives MongoDB durable financial flexibility. Strong cash conversion funds R&D, buybacks, and strategic investments without borrowing, lowering solvency risk and enabling multi‑quarter execution of growth and margin-expansion plans.
Read all positive factors
MongoDB Key Performance Indicators (KPIs)
Any
Revenue by Geography
Splits revenue across regions to show where MongoDB is strongest and where growth opportunities or macro risks lie; regional differences can affect growth prospects and exposure to currency or regulatory headwinds.
Splits revenue across regions to show where MongoDB is strongest and where growth opportunities or macro risks lie; regional differences can affect growth prospects and exposure to currency or regulatory headwinds.
Data provided by:
The Fly
The FlyMongoDB (MDB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$28.54B
Dividend YieldN/A
Average Volume (3M)2.61M
Price to Earnings (P/E)―
Beta (1Y)1.73
Revenue Growth23.64%
EPS Growth68.36%
CountryUS
Employees5,558
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)-0.36
Shares Outstanding80,431,930
10 Day Avg. Volume1,578,620
30 Day Avg. Volume2,610,998
Financial Highlights & Ratios
PEG Ratio8.59
Price to Book (P/B)10.22
Price to Sales (P/S)12.25
P/FCF Ratio60.32
Enterprise Value/Market Cap0.91
Enterprise Value/Revenue9.96
Enterprise Value/Gross Profit13.84
Enterprise Value/Ebitda1.09K
Forecast
1Y Price Target
$407.96Price Target Upside54.89% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering26
EPS Forecast (FY)6.12
Revenue Forecast (FY)$2.96B
MongoDB Business Overview & Revenue Model
Company Description
MongoDB, Inc. serves as a global provider of a versatile database platform. The company's offerings feature MongoDB Enterprise Advanced, a sophisticated commercial database server designed for corporate clients, which can be deployed in cloud, on-...
How the Company Makes Money
MongoDB primarily makes money through subscription-based and consumption-based offerings centered on the MongoDB database platform. The largest revenue stream is MongoDB Atlas, its managed cloud database service, which generally generates revenue ...
MongoDB Earnings Call Summary
Earnings Call Date:May 28, 2026
(Q1-2027)
| % Change Since: |
Next Earnings Date:Aug 27, 2026
Earnings Call Sentiment Positive
The call presented broad-based operational strength: strong top-line growth (25% YoY), sustained Atlas momentum (≈29% YoY with $117M incremental Atlas dollar growth), expanding profitability (non-GAAP operating margin 18%), robust cash flow and customer expansion (67.7k customers, 2.9k $100k+ ARR customers), and accelerating product/AI traction (MongoDB 8.3 performance gains, voyage embeddings preview, vector search adoption). The primary negatives are slower EA/other growth, some margin mix pressure, consumption variability risk due to Atlas concentration, the early-stage nature of AI monetization, and a small acquisition impact; there was also a notable inconsistency in messaging around full-year growth ranges. Overall, the positive metrics and momentum materially outweigh the lowlights, though investors should watch EA performance, margin mix, and consumption variability.Positive Updates
Total Revenue Growth
Total revenue of $688 million, up 25% year-over-year, accelerating from ~22% in prior comparable periods.
Negative Updates
Slower EA and 'Other' Revenue Growth
EA and other revenue grew 13% year-over-year (EA & other ARR ~11% YoY). Management now expects EA and other full-year growth in the mid-single-digits and anticipates this segment to be roughly flat in the second half of the year due to tough comparables.
Read all updates
Q1-2027 Updates
Positive
Negative
Total Revenue Growth
Total revenue of $688 million, up 25% year-over-year, accelerating from ~22% in prior comparable periods.
Read all positive updates
Company Guidance
MongoDB guided Q2 revenue of $729M–$734M (up ~23%–24% year‑over‑year) with Atlas revenue growth of ~26%, non‑GAAP income from operations of $152M–$156M (implying ~21% operating margin at the high end), and non‑GAAP EPS of $1.58–$1.61 on ~86.3M diluted shares; for fiscal 2027 it guided revenue of $2.92B–$2.96B (up ~19%–20%), non‑GAAP income from operations of $571M–$591M (≈20% operating margin at the high end), non‑GAAP EPS of $5.95–$6.14 on ~86.7M diluted shares (assuming a 20% non‑GAAP tax rate), and expects to expand operating margin by 100–150 bps and target Rule of 40 performance at the high end; management also assumes Q2 EA & other revenue growth of ~20%, raised full‑year EA & other to mid‑single‑digit growth, and highlighted Atlas’s predictability as it accounted for ~75% of Q1 revenue.MongoDB Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
85
Very Positive
Cash Flow
90
Very Positive
| Breakdown | TTM | Jan 2026 | Jan 2025 | Jan 2024 | Jan 2023 | Jan 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.60B | 2.46B | 2.01B | 1.68B | 1.28B | 873.78M |
| Gross Profit | 1.87B | 1.77B | 1.47B | 1.26B | 934.74M | 614.29M |
| EBITDA | 23.69M | -29.32M | -96.53M | -122.34M | -294.27M | -267.12M |
| Net Income | -29.09M | -71.15M | -129.07M | -176.60M | -345.40M | -306.87M |
Balance Sheet | ||||||
| Total Assets | 3.69B | 3.76B | 3.43B | 2.87B | 2.59B | 2.45B |
| Cash, Cash Equivalents and Short-Term Investments | 2.43B | 2.39B | 2.34B | 2.02B | 1.84B | 1.83B |
| Total Debt | 30.43M | 32.86M | 36.50M | 1.18B | 1.18B | 1.18B |
| Total Liabilities | 757.73M | 806.49M | 648.07M | 1.80B | 1.85B | 1.78B |
| Stockholders Equity | 2.93B | 2.95B | 2.78B | 1.07B | 739.51M | 666.70M |
Cash Flow | ||||||
| Free Cash Flow | 599.50M | 500.19M | 120.64M | 115.40M | -20.21M | -1.09M |
| Operating Cash Flow | 605.17M | 505.15M | 150.19M | 121.48M | -12.97M | 6.98M |
| Investing Cash Flow | 400.32M | 538.82M | -657.44M | 188.02M | -33.31M | -852.14M |
| Financing Cash Flow | -628.82M | -462.44M | 202.06M | 38.24M | 30.20M | 890.89M |
MongoDB Technical Analysis
Positive
263.38
Price Trends
316.75
Positive
299.13
Positive
332.50
Positive
Market Momentum
3.99
Negative
57.06
Neutral
87.82
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MDB, the sentiment is Positive. The current price of 263.38 is below the 20-day moving average (MA) of 338.94, below the 50-day MA of 316.75, and below the 200-day MA of 332.50, indicating a bullish trend. The MACD of 3.99 indicates Negative momentum. The RSI at 57.06 is Neutral, neither overbought nor oversold. The STOCH value of 87.82 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MDB.
MongoDB Risk Analysis
MongoDB disclosed 69 risk factors in its most recent earnings report. MongoDB reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
MongoDB Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $28.54B | -987.15 | -0.99% | ― | 23.64% | 68.36% | |
75 Outperform | $6.03B | 16.38 | 37.43% | ― | 17.26% | ― | |
71 Outperform | $13.58B | 50.24 | 154.32% | ― | 17.61% | 119.62% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | $90.17B | -73.91 | -57.21% | ― | 31.07% | 16.46% |
* Technology Sector Average
MDB
MongoDB
354.88
144.87
68.98%
ESTC
Elastic
58.04
-28.24
-32.73%
SNOW
Snowflake
260.15
34.36
15.22%
DOCN
DigitalOcean Holdings
130.13
101.26
350.74%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.