MongoDB Just Surged to a New 52-Week High. Is This the Turnaround Investors Have Been Waiting For?

Core Insights - MongoDB is experiencing a resurgence driven by increasing demand for artificial intelligence (AI) applications, leading to a significant recovery in its stock price [2][3]. Financial Performance - For fiscal Q3 2026, MongoDB reported revenue of $628 million, a 19% year-over-year increase, with its Atlas platform revenue rising 30% and contributing 75% of total revenue [4]. - Adjusted earnings per share (EPS) reached $1.32, a turnaround from a loss of $1.16 in the same quarter last year [4]. - The company exceeded analysts' expectations, which forecasted revenue of $593.9 million and adjusted EPS of $0.81 [5]. Customer Growth - MongoDB added 2,600 new customers in the quarter, marking a 19% increase year-over-year [5]. - The number of customers spending over $100,000 annually in recurring revenue rose to 2,694, up 16% [5]. Leadership and Recognition - Chirantan "CJ" Desai has been appointed as the new CEO, succeeding Dev Ittycheria [6]. - MongoDB was recognized as a Leader in the 2025 Gartner Magic Quadrant for Cloud Database Management Systems, highlighting its innovation and execution strength [7]. Market Position and Future Outlook - The company serves over 70% of the Fortune 100, with significant adoption among major banks, healthcare organizations, and manufacturers [8]. - Management has raised its full-year revenue forecast to $2.436 billion, a 21% increase, and adjusted EPS to $4.78, a 31% increase [10]. - Analysts have become bullish on MongoDB's future, with price targets being raised significantly, including a Street-high target of $500 from Wolf Research [11]. Valuation - MongoDB's market cap stands at $33 billion, trading at approximately 13 times its expected fiscal 2026 sales, indicating a premium valuation [12].