MongoDB (MDB) PT Raised to $210 at Mizuho

Mizuho analyst Siti Panigrahi raised the price target on MongoDB (NASDAQ: MDB) to $210.00 (from $190.00) while maintaining a Neutral rating.

The analyst commented: "MDB reported good FQ1 results with $549M revenue (+22% Y/Y), above consensus of $528M (+17% Y/Y) as consumption revenue improved and Atlas grew 26% Y/Y (slight acceleration from 24% in FQ4). Management nudged FY26 revenue guidance higher ($10M at the midpoint) but less than the $21M beat in the quarter, due to uncertain macro and timing of EA renewals as the company faces a $50M headwind from non-Atlas multi-year renewals in the year. The company is also still reinvesting in R&D and sales, which includes increasing its focus on enterprise customers while reducing emphasis on the mid-market segment (transitioning more to self-service). While the Voyage AI acquisition makes sense from a longer-term perspective, we do not foresee near-term upside from the AI opportunity and, as such, maintain our Neutral rating."

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