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MongoDB (NASDAQ:MDB) just grabbed an Outperform from BMO Capital Markets with a $280 price target as it rides the wave of generative AI workloads.
BMO’s lead analyst Keith Bachman says MongoDB is poised to be a GenAI database winner as customers shift AI projects into production.
The database market tops $100 billion in annual spend per Gartner, and Bachman forecasts MDB can sustain low? to mid?20% revenue growth through fiscal 2026 and mid? to high?teens growth in fiscal 2027.
That outlook taps into surging demand for vector search and real?time analytics, areas where MongoDB is beefing up capabilities and exploring M&A.
Shares are up with a year?to?date gain of 4.5% versus 12.5% for the IGV software ETF. Analysts note MongoDB has beaten consensus revenue and EPS estimates every quarter since Q2 2021, setting a track record ahead of its Q2 fiscal 2026 report on August 28.
This article first appeared on GuruFocus.