Needham designated MongoDB (MDB) as a "Top Pick" for 2026. The firm reiterated its Buy rating and raised the price target to $500, up from $480.
Needham highlighted the re-acceleration of growth for MongoDB’s cloud database product, Atlas. Analysts project Atlas will exceed $2.0 billion in annual recurring revenue.
Analysts express optimism regarding MongoDB’s position in the AI era, citing its flexible document model as a strong advantage for enterprise adoption. Key catalysts include the recent acquisition of Voyage AI and the introduction of new vector search capabilities. These factors are expected to drive revenue growth from AI applications in the coming fiscal year and beyond.
The positive outlook is further supported by improved go-to-market execution. Needham also noted greater visibility into the company's Non-Atlas revenue streams.