MongoDB Sets Conservative Fiscal 2027 Targets With Upside Potential, Oppenheimer Says

MT Newswires Live03-04

MongoDB's (MDB) fiscal 2027 outlook appears conservative and could prove beatable despite softer-than-expected Atlas growth guidance and ongoing sales execution changes, Oppenheimer said.

The company guided to fiscal 2027 revenue of $2.86 billion to $2.90 billion, representing 16.1% to 17.7% year over year growth. Atlas revenue is expected to grow 21% to 23%, slightly under expectations.

Oppenheimer said the company's management continues to apply a measured approach to guidance, factoring in close rates, sales transitions and second-half trends.

Fourth-quarter upside was supported in part by large non-Atlas multi-year and bundled renewals. These deals created a modest headwind to reported Atlas growth but highlighted continued opportunity in on-premise environments. The investment firm pointed to solid operating execution with growth in both Atlas and non-Atlas annual recurring revenue.

While evolving go-to-market changes and softer Atlas momentum may weigh on near-term sentiment, the brokerage said it remains positive on MongoDB's long-term positioning. It highlighted opportunities in multimodel databases, enterprise AI workloads and improving feature adoption.

Oppenheimer kept its outperform rating and lowered its price target to $375 from $425.

Price: 253.00, Change: -72.01, Percent Change: -22.16

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