Earnings and Revenue Growth: MongoDB reported a third-quarter fiscal 2026 non-GAAP EPS of $1.32, a 13.8% increase year-over-year, with total revenues of $628.3 million, up 18.7% and exceeding estimates.
Customer Base Expansion: The company ended the quarter with over 62,500 customers, a significant increase from the previous year, with Atlas (Cloud) revenues growing 30% year-over-year, contributing to 75% of total revenues.
Financial Performance Metrics: Non-GAAP operating income rose 21.3% to $123.1 million, with an operating margin of 19.6%. However, gross margin contracted by 240 basis points to 74.2%.
Future Projections: For the fourth quarter of fiscal 2026, MongoDB expects revenues between $665 million and $670 million, with a projected non-GAAP EPS of $1.44-$1.48, and anticipates total revenues for fiscal 2026 to be between $2.434 billion and $2.439 billion.
Wall Street analysts forecast MDB stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MDB is 468.85 USD with a low forecast of 380.00 USD and a high forecast of 550.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
28 Analyst Rating
Wall Street analysts forecast MDB stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for MDB is 468.85 USD with a low forecast of 380.00 USD and a high forecast of 550.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
24 Buy
4 Hold
0 Sell
Strong Buy
Current: 404.640
Low
380.00
Averages
468.85
High
550.00
Current: 404.640
Low
380.00
Averages
468.85
High
550.00
Truist
Buy
maintain
$450 -> $500
2026-01-07
Reason
Truist
Price Target
$450 -> $500
AI Analysis
2026-01-07
maintain
Buy
Reason
Truist raised the firm's price target on MongoDB to $500 from $450 and keeps a Buy rating on the shares. Over the past year, a clear split has emerged between AI winners and losers, with seat-based business models down an average of 34% while other companies gained 24%, the analyst tells investors in a research note. This bifurcated sentiment is expected to continue driving a valuation gap in 2026, though some of last year's underperformers may rebound, the firm says.
Needham
Buy
maintain
$480 -> $500
2026-01-06
Reason
Needham
Price Target
$480 -> $500
2026-01-06
maintain
Buy
Reason
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."
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Oppenheimer
Ittai Kidron
Outperform
maintain
$450 -> $490
2026-01-05
Reason
Oppenheimer
Ittai Kidron
Price Target
$450 -> $490
2026-01-05
maintain
Outperform
Reason
Oppenheimer analyst Ittai Kidron raised the firm's price target on MongoDB to $490 from $450 and keeps an Outperform rating on the shares. The firm believes MongoDB is technically differentiated by its document model, combined with fully integrated search and vector search, positioning it for strong performance in 2026.
RBC Capital
Rishi Jaluria
Outperform
maintain
$450 -> $500
2026-01-05
Reason
RBC Capital
Rishi Jaluria
Price Target
$450 -> $500
2026-01-05
maintain
Outperform
Reason
RBC Capital analyst Rishi Jaluria raised the firm's price target on MongoDB to $500 from $450 and keeps an Outperform rating on the shares. 2026 is likely to be a year when AI tailwinds become more evident for companies well positioned for enterprise AI adoption, while less prepared peers may remain pressured by the "AI is the death of software" narrative, the analyst tells investors in a research note. Enterprise spending appears to be stabilizing and improving in select areas, with GenAI driving innovation even as management teams remain conservative in early 2026 guidance, the firm says.
About MDB
MongoDB, Inc. is a developer data platform company. Its developer data platform is a globally distributed operational database integrated with a set of data services that allow development teams to address the growing variety of application requirements. Its customers can implement its developer data platform as a managed service offering, or they can choose a self-managed option. Its MongoDB Atlas is its managed multi-cloud database-as-a-service (DBaaS) offering that includes an integrated set of databases and related services. Atlas Vector Search allows the integration of an operational database and vector search in a unified, fully managed platform. MongoDB Enterprise Advanced is its proprietary self-managed commercial offering for enterprise customers that can run in the cloud, on-premises or in a hybrid environment. It also provides professional services for its customers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
