MongoDB Inc. shares rose after Rosenblatt Securities raised its price target to $445 from $395, citing stronger-than-expected second-quarter results and upward revisions to fiscal 2027 guidance.
The database software provider reported 30% year-over-year revenue growth for the quarter, beating Rosenblatt’s estimate and consensus by roughly 5%. Atlas, its cloud database platform, grew 29% YoY—above Rosenblatt’s prior forecast of 26%—and now accounts for 73% of total revenue. This marks the fifth straight quarter of 29% Atlas growth. Non-Atlas on-premise revenue rose 36% YoY.
Operating margins reached 24%, exceeding Rosenblatt’s 21% estimate. The firm also raised its fiscal 2027 revenue outlook by about 2%, or $70 million at the high end, to a range of $2.99 billion to $3.03 billion. Atlas growth for fiscal 2027 is now expected to accelerate to 27%, up from the prior 25% estimate, while non-Atlas revenue is projected to rise approximately 11%, revised from around 5%.
Rosenblatt’s new price target of $445 compares with the stock’s closing price of $434.21 on Tuesday. Needham maintained its $430 target with a Buy rating, while Canaccord set a $480 target, Morgan Stanley kept its $430 target with an Overweight rating, Guggenheim kept its $560 target with a Buy rating, and Citizens’ Patrick Walravens maintained a $519 target with a Market Outperform rating.
MongoDB’s Atlas run-rate has surpassed $2 billion, and the company added a record 2,900 customers in the quarter. Its Voyage customer count nearly doubled quarter-over-quarter. The firm also provided third-quarter guidance, projecting non-GAAP EPS of $1.57 to $1.61, operating income of $152 million to $156 million, and revenue of $756 million to $761 million.
