Why Three Analysts Just Raised Their MongoDB (MDB) Stock Price Targets
TLDR
- MongoDB stock rose 2% after Evercore ISI initiated coverage with an Outperform rating and a $525 price target.
- Evercore’s Kirk Materne cited Atlas, MongoDB’s cloud platform, as the primary growth driver, now making up ~75% of revenue.
- BMO Capital raised its price target from $375 to $500; Truist raised theirs from $400 to $475.
- MongoDB reports Q2 fiscal 2027 earnings on September 1, with analysts expecting revenue of $735.11 million, up 24% year-over-year.
- Wall Street holds a Strong Buy consensus on MDB, with 26 Buys and 3 Holds from 29 analysts.
MongoDB (MDB) stock climbed 2% on Friday after Evercore ISI initiated coverage with an Outperform rating and a price target of $525, implying around 22% upside from current levels.
Evercore ISI analyst Kirk Materne pointed to developer adoption and the Atlas cloud platform as the two main reasons for his bullish stance.
Atlas now accounts for roughly 75% of MongoDB’s total revenue. Materne highlighted its growing role in production AI workloads as a key factor behind the initiation.
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