MongoDB (MDB) PT Lowered to $286 at BofA Securities

BofA Securities analyst Brad Sills lowered the price target on MongoDB (NASDAQ: MDB) to $286.00 (from $420.00) while maintaining a Buy rating.

The analyst comments: "We are lowering our PO to $286 from $420 to reflect the lower FY26 rev and margin outlook. However, we reiterate our Buy rating. With the stock trading at 6.1x CY26E sales, or 0.4 adjusted for 19% growth, we see downside support. We believe that total revenue and Atlas revenue growth rates have bottomed at 12% and 21%. Leading indicators suggest reacceleration is likely moving through the year: 1) ramping usage on solid new workloads, 2) waning impact from weaker Q1FY25 consumption headwinds and 3) renewed focus on deep pocketed strategic account expansion deals. Our new PO is based on 9x C26e Sales (11x prior) or 0.5x adjusted for growth, a discount to the large cap group for consumption volatility and NT transition."

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