Bank of America raises MongoDB’s price target after Q1 results show accelerating cloud revenue and raised FY2027 guidance.
Bank of America raised its price target for MongoDB (MDB) to $390 from $375, maintaining a Buy rating. The move follows stronger-than-expected Atlas revenue growth of 29.4% year-over-year in Q1, up from 29.2% in the prior quarter, defying concerns over a slowdown in cloud demand.
MongoDB’s management also lifted FY2027 revenue guidance to $2.92 billion–$2.96 billion, exceeding analyst expectations. The company projected 26% Atlas growth for fiscal Q2, well above Wall Street estimates, signaling sustained momentum in customer workloads and consumption trends.
The raised outlook and robust cloud performance reinforced BofA’s view that MongoDB remains a leader in next-generation databases, with early traction in AI labs further supporting long-term growth prospects.