BofA Securities Reiterates Buy Rating on MongoDB (MDB)

BofA Securities analyst Koji Ikeda reiterated a Buy rating and $540.00 price target on MongoDB (NASDAQ: MDB)

The analyst comments: “Over the past five quarters, MongoDB has delivered sustained Atlas growth of 29% y/y, shown Enterprise Advanced (EA) is becoming a durable second growth engine, and profitability continues to exceed expectations. We think the bull case would be strengthened by quantitative evidence that AI is improving customer acquisition or consumption, and if the long-term targets are revised higher. On the other hand, if there are no meaningful updates, the investor day is unlikely to be a catalyst for the stock. With the stock up 8% since 9/8/26 (versus NASDAQ roughly flat), we think investors may already be pricing in some expected good news from the investor day. However, with MDB trading 8.6x EV/CY27E revenue, a 43% discount to the established AI beneficiary peer average of 15.2x (DDOG, SNOW, FROG), we think there is still ample room for a rerate. Maintain Buy. $540 PO implies approximately 40% upside.”

For an analyst ratings summary and ratings history on MongoDB click here. For more ratings news on MongoDB click here.

Shares of MongoDB closed at $383.56 yesterday.

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