Bank of America raises MongoDB price target to $390, cites strong Atlas growth and AI traction
By
Thomas Richmond
Front-window bakery material. Catches the eye, delivers the goods.
Summary
Bank of America reiterated its Buy rating on MongoDB (MDB) and raised its price target from $375 to $390 following the company's Q1 earnings report. The bank argues MongoDB remains a "share gainer" in the next-generation database market, citing stronger-than-expected Atlas growth (29.4% YoY revenue growth), a raised FY2027 outlook, and early traction with frontier AI labs as evidence of building business momentum. The strong Atlas performance pushed back against a narrative of slowing growth.
Key quotes
· 3 pulledMongoDB remains a 'share gainer' in the next-generation database market
Atlas growth pushed back against the slowdown narrative
Atlas reported 29.4% year-over-year revenue growth
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