Macquarie Raises MongoDB (MDB) PT, Maintains Neutral Rating
MongoDB, Inc. (NASDAQ:MDB) is one of the 10 tech stocks on Wall Street's radar right now. Macquarie increased its price target on MongoDB, Inc. (NASDAQ:MDB) to $230 from $215 and maintained a Neutral rating on June 6.
The firm noted that the company's strong first-quarter performance helped ease concerns after last quarter's weak full-year revenue and margin outlook. Macquarie believes potential gains and risks are currently in balance.
On June 4, MongoDB (NASDAQ:MDB) reported first-quarter results that exceeded expectations, with adjusted earnings of $1.00 per share and $549 million in revenue, both topping estimates by $0.34 and $21.53 million, respectively. The company added 2,600 new customers, reaching over 57,100 total. MongoDB Atlas revenue grew 26% year-over-year and made up 72% of total revenue.
A software engineer hosting a remote video training session on a multi-cloud database-as-a-service solution.
The company's management raised full-year revenue guidance by $10 million to $2.25–$2.29 billion and operating margin to 12%, while expanding the share repurchase program to $1 billion. For the second quarter, MongoDB (NASDAQ:MDB) guided its revenue toward the $548 million-$553 million range. The latest results presented a sharp turnaround from the prior quarter's conservative outlook, which had driven the stock down nearly 30%.
MongoDB (NASDAQ:MDB) provides a flexible database platform that includes a cloud-based service, enterprise-grade solutions, and a free version for developers, along with consulting and training services.
While we acknowledge the potential of MDB as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.
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