Cantor Fitzgerald analyst Thomas Blakey reiterated an Overweight rating and $540.00 price target on MongoDB (NASDAQ: MDB).

The analyst commented, "Management raised every growth target and shortened the horizon to ~3 years: total revenue 20% + (from high-teens), Atlas mid-20% (from 20%+), EA & Other ARR 10%+ (from implied low-to-mid-single digits), and GAAP profitability from FY27, while holding 100-200bps annual margin expansion and 80-100% FCF conversion. New disclosures included total subscription ARR of $2.89B (+25% y/y, a third year of acceleration), AI-natives at 3-5% of Atlas revenue growing 165% y/y, and a $1B incremental buyback. Assuming AI Atlas revenue remains strong, in line with accelerating trends reported by MongoDB and our discussions with partners at .local, F28 implied core forecasts by the Street look too conservative. As with last year, we view the framework as a floor: enterprise AI, AI-native scale, app modernization (now with support from Cognition), and three new products sit outside the base case, with monetization of new products weighted more toward FY28-FY29."

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Shares of MongoDB closed at $357.96 yesterday.