MongoDB Stock Soars to a 52-Week High. How Earnings Wowed Wall Street.

MongoDB raised its full-year financial guidance on Monday as the AI boom boosts demand for its software. (Dreamstime)

Key Points

• MongoDB stock surged after raising its full-year earnings guidance by over one dollar per share.
• The company now expects annual adjusted earnings of $4.76 to $4.80 per share, up from previous guidance of $3.64 to $3.73 per share.
• Third-quarter adjusted earnings were $1.32 on revenue of $628.3 million, exceeding analyst expectations.

MongoDB stock soared to a new recent high on Tuesday after the document database company impressed Wall Street by raising its full-year earnings forecast by more than $1 a share.

Shares surged 24% to $408.41 in early trading, a new 52-week high. The stock’s record high of $585.03 was set on Nov. 16, 2021. The S&P 500 was 0.3% higher.

Analysts were raising their price targets on the stock after MongoDB posted better-than-expected third-quarter earnings after the bell on Monday. The company also hiked its outlook for the current fiscal year as the artificial-intelligence boom stokes demand. The company now expects annual adjusted earnings of $4.76 to $4.80 a share, compared with previous guidance of $3.64 to $3.73 a share.

Created with Highcharts 9.0.1MongoDBSource: FactSetAs of Dec. 2, 11:17 a.m. ET

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AI could carry on boosting the stock, Cantor analyst Thomas Blakey said late Monday. “The AI tailwind, in our view, continues to not be fully priced into shares even at recently expanded multiples… we see multiple levers of optionality for MDB shares from future beat-and-raise prints,” Blakey, who rates shares at Overweight, wrote, raising his price target to $454 from $406. The new price target projects that MongoDB will trade at 13-times its revenue for 2026.

Blakey wasn’t the only analyst to raise his price target. Barclays analyst Raimo Lenschow increased his call to $415 from $390 on Tuesday, while standing by an Overweight rating.

For the third quarter, MongoDB reported adjusted earnings of $1.32, as revenue rose 19% from a year ago to $628.3 million. Analysts were expecting earnings of 81 cents a share on revenue of $593.9 million.

Even before Tuesday’s move, the stock was on a good run in 2025. MongoDB shares have jumped 41% this year, powered higher by the AI boom and a belief that the company can defend moves on its database territory from rivals Snowflake and Databricks. The S&P 500 is up 16% in 2025.

Write to George Glover at george.glover@dowjones.com