These Analysts Boost Their Forecasts On MongoDB After Better-Than-Expected Q3 Results

Core Insights - MongoDB Inc. reported strong third-quarter financial results, exceeding analyst expectations for both revenue and earnings per share [1][2] - The company raised its fiscal 2026 revenue and earnings guidance, reflecting continued growth and profitability [4] Financial Performance - Third-quarter revenue reached $628.31 million, surpassing analyst estimates of $591.52 million [1] - Adjusted earnings for the third quarter were $1.32 per share, exceeding the expected 80 cents per share [1] - Fourth-quarter revenue is projected to be between $665 million and $670 million, compared to estimates of $625.12 million [3] Guidance Updates - Fiscal 2026 revenue guidance was raised to a range of $2.43 billion to $2.44 billion, up from the previous range of $2.34 billion to $2.36 billion [4] - Adjusted earnings guidance for fiscal 2026 was increased from $3.64 to $3.73 per share to a new range of $4.76 to $4.80 per share, against estimates of $3.71 per share [4] Stock Performance - Following the earnings announcement, MongoDB shares rose by 23.6%, trading at $406.50 [4] Analyst Ratings and Price Targets - Multiple analysts raised their price targets for MongoDB following the earnings report, with notable increases from Piper Sandler ($400 to $490) and Needham ($365 to $480) [5] - Analysts maintained positive ratings, with several reiterating "Buy" or "Overweight" ratings while adjusting price targets upwards [5][7]