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MongoDB
(NASDAQ:MDB)
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Rating:69Neutral
Price Target:
$423.00
▲(4.16% Upside)
Action:Downgraded
Date:09/30/26
MDB scores well on fundamentals—especially strong free cash flow and a low-leverage balance sheet—reinforced by a very positive earnings call with raised guidance and margin expansion expectations. The overall score is held back by weak technicals (price below key moving averages with negative MACD) and a very demanding valuation (P/E ~452), which increases sensitivity to any growth or execution slowdown.
Positive Factors
Atlas growth and customer expansion
Atlas combines recurring subscription economics with usage-based expansion, and sustained growth across revenue and customers indicates durable adoption. Continued workload migration onto the platform can deepen retention, increase consumption, and support compounding revenue as customers scale applications.
Negative Factors
CEO transition risk
A sudden CEO departure introduces execution and strategic continuity risk while the board searches for a permanent successor. Although guidance was reaffirmed, leadership turnover can disrupt priorities, decision-making, and employee or customer confidence during an important phase of AI and platform expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Atlas growth and customer expansion
Atlas combines recurring subscription economics with usage-based expansion, and sustained growth across revenue and customers indicates durable adoption. Continued workload migration onto the platform can deepen retention, increase consumption, and support compounding revenue as customers scale applications.
Read all positive factors
MongoDB Key Performance Indicators (KPIs)
Any
Revenue by Geography
Splits revenue across regions to show where MongoDB is strongest and where growth opportunities or macro risks lie; regional differences can affect growth prospects and exposure to currency or regulatory headwinds.
Splits revenue across regions to show where MongoDB is strongest and where growth opportunities or macro risks lie; regional differences can affect growth prospects and exposure to currency or regulatory headwinds.
Data provided by:
The Fly
The FlyMongoDB (MDB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$30.05B
Dividend YieldN/A
Average Volume (3M)2.89M
Price to Earnings (P/E)487.7
Beta (1Y)2.01
Revenue Growth25.45%
EPS GrowthN/A
CountryUS
Employees5,783
SectorTechnology
Sector Strength88
IndustrySoftware - Infrastructure
Share Statistics
EPS (TTM)0.73
Shares Outstanding80,556,340
10 Day Avg. Volume3,164,312
30 Day Avg. Volume2,888,650
Financial Highlights & Ratios
PEG Ratio8.59
Price to Book (P/B)10.22
Price to Sales (P/S)12.25
P/FCF Ratio60.32
Enterprise Value/Market Cap0.84
Enterprise Value/Revenue9.10
Enterprise Value/Gross Profit12.52
Enterprise Value/Ebitda225.58
Forecast
1Y Price Target
$465.57Price Target Upside14.64% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering31
EPS Forecast (FY)6.56
Revenue Forecast (FY)$3.02B
MongoDB Business Overview & Revenue Model
Company Description
MongoDB, Inc. serves as a global provider of a versatile database platform. The company's offerings feature MongoDB Enterprise Advanced, a sophisticated commercial database server designed for corporate clients, which can be deployed in cloud, on-...
How the Company Makes Money
MongoDB primarily generates revenue through subscriptions, with MongoDB Atlas (its fully managed database-as-a-service) as the largest and most important revenue stream. Atlas revenue is usage-based: customers pay for consumed resources such as co...
MongoDB Earnings Call Summary
Earnings Call Date:Sep 01, 2026
(Q2-2027)
| % Change Since: |
Next Earnings Date:Dec 07, 2026
Earnings Call Sentiment Positive
The call was strongly positive, with broad-based revenue growth, sustained Atlas performance, accelerating EA momentum, improving profitability, strong cash flow, raised full-year guidance, and early AI adoption across enterprise customers, AI natives, and frontier labs. The principal cautions were prudent near-term guidance, an approximately flat second-half EA outlook, uncertainty around multiyear deals, and the still-early stage of AI and Voyage monetization.Positive Updates
Strong Q2 Revenue Growth
Total revenue was $772 million, up 30% year over year, representing the highest quarterly growth level since fiscal year 24 and accelerating from 24% growth in the year-ago quarter. The company came in above all guidance ranges.
Negative Updates
Near-Term Atlas Growth Moderation in Guidance
Q3 Atlas growth guidance is approximately 26%, below the approximately 29% year-over-year growth delivered in Q2. Management described Q3 as Atlas's toughest compare of the year and said it is being prudent with guidance for quarters farther out.
Read all updates
Q2-2027 Updates
Positive
Negative
Strong Q2 Revenue Growth
Total revenue was $772 million, up 30% year over year, representing the highest quarterly growth level since fiscal year 24 and accelerating from 24% growth in the year-ago quarter. The company came in above all guidance ranges.
Read all positive updates
Company Guidance
For Q3 fiscal 27, MongoDB expects Atlas growth of approximately 26%, EA and other revenue growth in the mid single digits, total revenue of $756 million to $761 million, representing 20% to 21% year over year growth, non GAAP income from operations of $152 million to $156 million, an operating margin of approximately 20.5% at the high end of guidance, and non GAAP net income per share of $1.57 to $1.61 based on 87.1 million diluted shares outstanding; for fiscal 27, it expects Atlas growth of approximately 27%, EA and other revenue growth of approximately 11%, total revenue of $2.99 billion to $3.03 billion representing full year growth of 21% to 23%, non GAAP income from operations of $616 million to $636 million, an operating margin of approximately 21% at the high end of guidance, and non GAAP net income per share of $6.39 to $6.58 based on 86.4 million diluted shares outstanding, while expecting to expand operating margin by approximately 250 basis points, be GAAP EPS profitable for fiscal 2027, and have full year free cash flow to conversion at the upper end of the long term target range of 80% to 100%.MongoDB Financial Statement Overview
Summary
Income Statement
74
Positive
Balance Sheet
88
Very Positive
Cash Flow
92
Very Positive
| Breakdown | TTM | Jan 2026 | Jan 2025 | Jan 2024 | Jan 2023 | Jan 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.78B | 2.46B | 2.01B | 1.68B | 1.28B | 873.78M |
| Gross Profit | 2.02B | 1.77B | 1.47B | 1.26B | 934.74M | 614.29M |
| EBITDA | 112.22M | -29.32M | -96.53M | -122.34M | -294.27M | -267.12M |
| Net Income | 58.90M | -71.15M | -129.07M | -176.60M | -345.40M | -306.87M |
Balance Sheet | ||||||
| Total Assets | 3.78B | 3.76B | 3.43B | 2.87B | 2.59B | 2.45B |
| Cash, Cash Equivalents and Short-Term Investments | 2.41B | 2.39B | 2.34B | 2.02B | 1.84B | 1.83B |
| Total Debt | 28.59M | 32.86M | 36.50M | 1.18B | 1.18B | 1.18B |
| Total Liabilities | 797.71M | 806.49M | 648.07M | 1.80B | 1.85B | 1.78B |
| Stockholders Equity | 2.98B | 2.95B | 2.78B | 1.07B | 739.51M | 666.70M |
Cash Flow | ||||||
| Free Cash Flow | 667.34M | 500.19M | 120.64M | 115.40M | -20.21M | -1.09M |
| Operating Cash Flow | 674.94M | 505.15M | 150.19M | 121.48M | -12.97M | 6.98M |
| Investing Cash Flow | 274.00M | 538.82M | -657.44M | 188.02M | -33.31M | -852.14M |
| Financing Cash Flow | -593.75M | -462.44M | 202.06M | 38.24M | 30.20M | 890.89M |
MongoDB Technical Analysis
Neutral
406.11
Price Trends
396.35
Negative
366.10
Positive
340.83
Positive
Market Momentum
-4.99
Negative
48.30
Neutral
76.58
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MDB, the sentiment is Neutral. The current price of 406.11 is above the 20-day moving average (MA) of 378.66, above the 50-day MA of 396.35, and above the 200-day MA of 340.83, indicating a neutral trend. The MACD of -4.99 indicates Negative momentum. The RSI at 48.30 is Neutral, neither overbought nor oversold. The STOCH value of 76.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for MDB.
MongoDB Risk Analysis
MongoDB disclosed 69 risk factors in its most recent earnings report. MongoDB reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
MongoDB Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
85 Outperform | $2.83B | 6.09 | 114.57% | ― | 0.96% | 326.64% | |
82 Outperform | $4.04T | 29.65 | 33.22% | 0.68% | 17.79% | 31.42% | |
77 Outperform | $19.72B | 12.54 | -395.76% | ― | 12.44% | 692.05% | |
69 Neutral | $30.05B | 487.73 | 2.00% | ― | 25.45% | ― | |
69 Neutral | $15.07B | 43.37 | 54.71% | ― | 21.41% | 83.31% | |
65 Neutral | $433.00B | 20.15 | 42.58% | 1.53% | 21.62% | 45.95% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
* Technology Sector Average
MDB
MongoDB
356.29
38.46
12.10%
MSFT
Microsoft
533.69
24.45
4.80%
ORCL
Oracle
130.55
-169.06
-56.43%
TDC
Teradata
29.89
8.63
40.59%
NTNX
Nutanix
69.85
1.95
2.87%
DOCN
DigitalOcean Holdings
109.29
65.84
151.53%
MongoDB Corporate Events
Business Operations and StrategyStock BuybackFinancial Disclosures
MongoDB Highlights Strategy and Growth at Investor Day
Positive
Sep 29, 2026
On September 29, 2026, MongoDB hosted an Investor Day webcast where its leadership outlined strategies for sustainable growth, long-term shareholder value and expanding revenue from its Atlas platform, amid a backdrop of geopolitical, macroeconomi...
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
MongoDB CEO Resigns as Former Chief Returns Interim
Neutral
Sep 28, 2026
On September 24, 2026, MongoDB President and CEO Chirantan “CJ” Desai informed the company he would resign effective September 28, 2026, and on September 28 MongoDB disclosed he had stepped down immediately to take a senior role at Met...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.