Oppenheimer released a research note following investor meetings, stating that MongoDB boasts a multi-year growth opportunity in artificial intelligence. This potential spans both AI-native and traditional enterprise customers.
The firm views MongoDB's AI opportunity as largely nascent. It notes the company has a long runway for expansion in this sector.
This analysis arrives as MongoDB stock trades near its 52-week high. The company has significantly outperformed the broader market over the last six months.
The rally is largely attributed to the strong performance of its Atlas cloud database platform. Atlas now accounts for 75% of MongoDB’s revenue, and its architecture is considered advantageous for developing AI applications.