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MongoDB Scores Best Day Ever After Earnings Beat—Here's What Wall Street Thinks

MongoDB Inc. (NASDAQ:MDB) is enjoying its biggest one-day rally since going public in 2017.

The New York-based software company saw its stock soar 32% by mid-morning Wednesday after it reported solid second-quarter earnings and raised its full-year guidance.

With revenue, margins and customer growth all topping expectations, the Street is responding with a flurry of target hikes and bullish outlooks.

A Rally Backed By Numbers

Second-quarter revenue rose 24% year-over-year to $591.4 million, about 6.8% above consensus.

Subscription revenue climbed to $572.3 million

Atlas—the company's cloud database product—grew 29% year-over-year and now accounts for 74% of total revenue.

Raised fiscal-year 2026 revenue guidance to $2.34–$2.36 billion, topping Wall Street's $2.29 billion estimate.

Non-GAAP operating income is forecast between $321 million and $331 million (prior range: $267 million to $287 million).

Non-GAAP EPS guidance was also lifted to $3.64–$3.73, compared with $2.94–$3.12 previously.

What Top Wall Street Analysts Are Saying

Goldman Sachs, Kash Rangan: Goldman raised its price target to $325 and maintained a Buy rating. Rangan cited a “clean beat-and-raise quarter” with Atlas growth accelerating and cost discipline surfacing in the financials.

"Atlas is now trending in the high-20's at-scale, best-in-class for consumption peers," Rangan said.

MongoDB is now executing in line with the upside thesis laid out earlier this year, Rangan says. AI startup adoption and Atlas momentum are strong signals of durable growth.

He added that MongoDB's upmarket push and architectural advantages ...