MongoDB price target lowered to $300 from $325 at Guggenheim

Guggenheim lowered the firm’s price target on MongoDB (MDB) to $300 from $325 and keeps a Buy rating on the shares, telling investors after earnings that the firm sees “a significant disconnect” between the quality of MongoDB’s business, as evidenced by its “robust” Q4 Atlas exit rate, healthy new logo adds, and investments for growth, compared to the stock’s valuation. The “severe” after-hours selloff was exacerbated by MongoDB maintaining its “historically conservative guidance approach vs. peers guiding more aggressively,” the analyst added. The firm is adjusting it target to account for lowered revenue forecasts, but says that in its “FY26 plausible case” it is modeling Atlas growth of 27% coupled with non-Atlas growth of 5% for total revenue growth of 20%, or seven points above the company’s initial guidance.