Snowflake vs. MongoDB: Which Data Platform Stock is a Better Pick?

Snowflake SNOW and MongoDB MDB are well-known cloud-native data platform providers that help enterprises manage and analyze massive data workloads in modern cloud environments. While Snowflake is rapidly growing its presence in enterprise data warehousing and analytics, MongoDB remains a top choice for flexible, developer-friendly database solutions.

Per Mordor Intelligence report, the database market is projected to be valued at $150.38 billion in 2025 and is anticipated to grow to $292.22 billion by 2030, witnessing a CAGR of 14.21% over the forecast period from 2025 to 2030. Both Snowflake and MongoDB are likely to gain from the massive growth opportunity highlighted by the growth pace.

Snowflake or MongoDB—Which of these data platform stocks have the greatest upside potential? Let’s find out.

The Case of SNOW Stock

SNOW is benefiting from strong adoption and increasing usage of its platform, as reflected by a net revenue retention rate of 126% as of Jan. 31, 2025. The number of customers that contributed more than $1 million in the trailing 12-month product revenue increased from 455 to 580 as of Jan. 31, 2024 and 2025, respectively. 

Products like Apache Iceberg and Hybrid tables, Polaris, Cortex Large Language Model and ML functions are helping Snowflake win new clients. Features, including interoperability and data transformation, have been gaining traction among clients.

In April 2025, Snowflake enhanced its AI Data Cloud by integrating core capabilities with Apache Iceberg tables. This enabled seamless open lakehouse strategies, improved query performance, comprehensive security, and data sharing while advancing open-source contributions.

Snowflake’s investments in artificial intelligence (AI) and machine learning, including the introduction of Cortex AI and its integration with models from OpenAI and Anthropic, drove customer engagement. More than 4,000 customers are using Snowflake’s AI and ML technology weekly.

SNOW also benefits from a strong partner base that includes major players like Amazon, ServiceNow, Microsoft, NVIDIA, Fiserv, EY, LTMindtree, Next Pathway and S&P Global.

The Case of MDB Stock

MongoDB’s prospects are strengthened by its strong product innovation and the growing adoption of its platform for modern workloads. MDB is benefiting from robust Atlas growth, which accounted for 71% of total revenues in the fiscal fourth quarter of 2025.

MongoDB continues to enhance its product offerings, including integrating vector and text search directly in the database and focusing on AI-driven applications. This positions MongoDB as a key player in the AI era, particularly as enterprises look for more flexible and scalable data infrastructures to support AI applications.

MDB is also expanding its footprint in AI with the acquisition of Voyage AI. In February 2025, MDB announced the acquisition of Voyage AI, enhancing its AI capabilities with advanced embedding and reranking models to help AI applications quickly find the most accurate and relevant information.

The company is benefiting from MongoDB’s expanding customer base, which grew significantly to more than 54,500 customers by the end of the fiscal fourth quarter of 2025. It added approximately 1,900 customers in the fiscal fourth quarter, demonstrating healthy demand for its platform.

Stock Price Performance and Valuation of SNOW and MDB

In the year-to-date period, SNOW shares have declined 5.3%, outperforming MDB shares which have lost 31.8%. The drop in MDB’s share price can be attributed to a challenging near-term landscape due to an uncertain macroeconomic climate and rising competitive pressures. Moreover, MDB’s operating margin is expected to decline from 15% in fiscal 2025 to 10% in fiscal 2026, signaling a weakening profitability trend.

YTD Stock Price Performance

Image Source: Zacks Investment Research

Valuation-wise, SNOW and MDB shares are currently overvalued, as suggested by a Value Score of F.

In terms of forward 12-month Price/Sales, SNOW shares are trading at 10.25X, higher than MDB’s 5.47X.

P/S Ratio (Forward 12 Months)

Image Source: Zacks Investment Research

How Do Earnings Estimates Compare for SNOW & MDB?

The Zacks Consensus Estimate for SNOW’s fiscal 2026 earnings is pegged at $1.14 per share, which has increased by a penny over the past 30 days. This indicates a 37.35% increase year over year.

The Zacks Consensus Estimate for MDB’s fiscal 2026 earnings is pegged at $2.66 per share, which has declined 2.2% over the past 30 days. This indicates a 27.32% decrease year over year.

Find the latest EPS estimates and surprises on Zacks Earnings Calendar.

Conclusion

Snowflake benefits from a robust portfolio and an expanding client base, which makes the stock attractive for long-term investors. However, MDB faces near-term challenges despite its strong AI-driven innovation and Atlas growth, which could limit upside potential. 

Currently, SNOW has a Zacks Rank #3 (Hold), making the stock a stronger pick than MongoDB, which has a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Snowflake Inc. (SNOW) : Free Stock Analysis Report

MongoDB, Inc. (MDB) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research