(Updated to include analyst's commentary.)
KeyBanc downgraded MongoDB (MDB) to sector weight from overweight and removed its $395 price target "given the outlook for a greater than expected revenue deceleration and margin compression for FY26."
The company's fiscal year 2026 guide for earnings and revenue "meaningfully missed" consensus estimates.
In a March 6 report, the brokerage pointed out execution challenges in the the past several quarters, and wrote that it was cautious over the company's "differentiation in GenAI, competition with hyperscalers and relational database," as well as its "run anywhere" strategy given MSD% ARR growth in non-Atlas, and the level of investment required in market/developer awareness."
MongoDB has an average rating of overweight and mean price target of $303.50, according to analysts polled by FactSet.
(MT Newswires covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www.mtnewswires.com/contact-us)
Price: 200.29, Change: -63.84, Percent Change: -24.17
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