Strategic investors love to own stocks in companies that keep beating earnings estimates and raising guidance. Many companies in the A.I. space fit this bill, but MongoDB, Inc. (NASDAQ: MDB) is turning into another story entirely. It would be impossible to expect performance like this forever, even with what feels like never-ending growth opportunities in A.I. But, at least for now, its results were stellar and Wall Street is still expecting the good times to keep rolling.
Oggonomics has tracked MongoDB as one of the top strategic stocks for 2025, noting how strategic Wall Street had become after its prior earnings report in August. The database leader just saw its shares jump 23% to $405.00 on the heels of another stellar “beat and raise” earnings report.
Now Wall Street’s cadre of analysts is literally in a stampede with price target hikes. Even the analysts who have Hold/Neutral types of ratings (due to valuation and share outperformance) have hiked their price targets handily.
While Oggonomics does not generally do earnings recaps, these numbers are impressive enough. Total revenue reached $628.3 million, representing 19% year-over-year growth. Its Atlas database-as-a-service platform grew 30% year-over-year and accounted for 75% of total Q3 revenue. The company continued to expand its customer base, adding 2,600 new customers during the quarter and bringing its total customer count to over 62,500 as of October 31, 2025.
While the database provider lost 2-cents per share ($18.4 million) on a net basis, its non-GAAP income from operations was $123.1 million. MongoDB also generated $143.5 million in cash flow from operations and ended the quarter with $2.3 billion in cash and cash equivalents.
Revenue guidance was also above almost all expectations: $665 million to $670 million for Q4 and $2.434 billion to $2.439 billion for the year.
The strategic take from Wall Street is that even after two incredible earnings reports with higher guidance there is still more upside expected ahead. Please note that all analyst price targets and ratings in this summary were issued by each firm named. Also please read the disclaimer below for additional commentary about analyst ratings.
There have been at least 20 analyst reports showing higher price targets and more expected upside ahead:
- Bernstein raised its price target to $452 from $338 and reiterated its Outperform rating.
- BMO Capital raised its price target to $455 from $415 and reiterated its Outperform rating.
- BofA Securities raised its price objective to $480 from $440 and reiterated its Buy rating.
- Canaccord Genuity raised its price target to $455 from $375 and reiterated its Buy rating.
- Cantor Fitzgerald raised its price target to $454 from $406 and reiterated its Overweight rating.
- Citizens reiterated its Outperform rating and raised its price target to $475 from $435.
- DA Davidson raised its target to $465 from $415 and reiterated its Buy rating.
- Goldman Sachs raised its price target to $475 from $405 and reiterated its Buy rating.
- Guggenheim raised its price target to $450 from $400 and reiterated its Buy rating.
- Morgan Stanley raised its price target to $440 from $400 and reiterated its Overweight rating.
- Needham & Co. reiterated its Buy rating and raised its price target to $480 from $365.
- Oppenheimer raised its price target to $450 from $385 and reiterated its Outperform rating.
- Piper Sandler raised its price target to $490 from $400 and reiterated its Overweight rating.
- RBC Capital Markets raised its price target to $450 from $405 and reiterated its Outperform rating.
- Rosenblatt reiterated its Buy rating and raised its price target to $425 from $385.
- Stifel raised its price target to $450 from $375 and reiterated its Buy rating.
- Truist Securities raised its price target to $450 from $400 and reiterated its Buy rating.
- Wells Fargo raised its price target to $450 from $430 and reiterated its Overweight rating.
Several firms maintained less aggressive official ratings, but the price target hikes are even stronger percentage hikes than many of the Buy/Outperform analyst ratings noted above. These are the few that were tracked:
- Macquarie only reiterated its Neutral rating, but still raised its price target to $385 from $305.
- Scotia reiterated its Sector Perform rating, but it still raised its price target to $415 from $320.
- UBS reiterated its Neutral rating, but still raised its price target to $440 from $330.
MongoDB is up 74% YTD, but it is up over 100% over the last six months. And despite the gains, its market cap is still just $33 billion.
PLEASE NOTE: Oggonomics does not have any rating or price target of its own for individual stocks. Investors should always keep in mind that analysts can get their thesis wrong just like investors. Analyst reports never come with assurances of gains and never have money-back guarantees if the stocks drop in price. Investing comes with risks, including potential losses. All investment decisions should be made with the advice and consultation of a financial advisor.
