MongoDB (MDB) jumped more than 20% in early Tuesday trading following strong third-quarter results and a bullish outlook. The database leader continues to solidify its position as a critical platform for running AI applications, particularly through its Atlas cloud database, which is seeing sharp acceleration.

Analysts Highlight Accelerating Atlas Growth

Guggenheim: “Atlas Momentum Is No Longer a Stretch”

Guggenheim analysts, led by Howard Ma, noted that:

F3Q Atlas revenue grew 30%, slightly above consensus.
New ARR grew 40%, accelerating on a two-year stack.
Large enterprise strength remained robust across the U.S. and EMEA.

Guggenheim reiterated a Buy rating and lifted its price target to $450 from $400, projecting:

FY26 revenue growth of 23%
At least 25% growth expected in FY27, driven by stable 29% Atlas expansion

Scotiabank: Strong Quarter but Valuation Now Stretched

Scotiabank analysts Patrick Colville and Joe Vandrick raised their target to $415 from $320, calling the quarter:

“A deeply impressive swan song for Ittycheria”
as MongoDB transitions to its new CEO, Desai.

However, they flagged that with shares trading at nearly 60× C26E EBITDA, additional upside requires clearer evidence of sustained momentum into FY27.

Citi: AI Momentum and Profitability Continue to Accelerate

Citi maintained its Buy rating with a $440 price target, noting:

Accelerating business and profitability momentum
Strengthening AI-driven consumption
Expectation of another strong revision cycle

Citi analysts, led by Tyler Radke, said MDB should continue trading higher as growth rates re-accelerate.

Wedbush: MDB Added to Best Ideas List

Wedbush kept its Outperform rating and raised its target to $440 from $400, noting MongoDB’s inclusion in:

Wedbush Best Ideas List
Ives AI 30 Portfolio

Analyst Dan Ives highlighted:

Improving Atlas consumption
Stronger pipeline mix
Operating leverage scaling successfully

Mizuho: Neutral but Encouraged by Enterprise Expansion

Mizuho reiterated its Neutral rating but raised its target to $310 from $250, emphasizing:

New CEO Desai’s focus on Fortune 500 and Global 2000 expansion
Early traction with AI-native companies
The need to monitor sustainability of growth and AI as a revenue driver

Broader AI & Cloud Stocks Move Higher

The strong print lifted other data-and-AI-linked stocks:

Snowflake (SNOW) up 3%
Amazon Web Services parent Amazon (AMZN) up 1%
Microsoft (MSFT) up 0.1%
Google parent Alphabet (GOOG/GOOGL) up 0.2%

These hyperscalers also compete in cloud-based data-management services, making MDB’s acceleration particularly notable.