MDB

MongoDB reported a robust Q2 FY2026 with revenue reaching $591.4 million, marking a 24% year-over-year increase. This growth was driven by strong subscription revenue, which increased by 23% to $572 million. The company's revenue outperformance was due to faster growth in its Atlas cloud platform, which saw a 29% year-over-year increase and accounted for nearly three-quarters of total revenue.

MongoDB raised its full-year revenue guidance by approximately $70 million, projecting fiscal 2026 revenue between $2.34 billion and $2.36 billion. This optimistic outlook reflects confidence in continued growth, particularly in Atlas, which is expected to maintain its momentum. The company also upgraded its annual earnings forecast, projecting EPS between $3.64 and $3.73.

MongoDB's emphasis on AI application development and its role in supporting AI infrastructure has positioned it strategically within the growing AI landscape. Many new clients are building AI applications with MongoDB as part of their infrastructure stack, which is driving customer adoption and revenue growth.

Several analysts responded to the strong earnings report by raising their price targets for MongoDB. For example, RBC Capital boosted its price target to $350 from $320, and Citi and BMO Capital also increased their price targets, recognizing the company's potential for further growth in AI and database management solutions.