MongoDB (MDB) Stock Rockets to New High After Blowout Q3 Earnings: Latest News, Forecasts and Analysis for December 2, 2025

MongoDB stock (NASDAQ: MDB) is having a breakout day. After crushing its latest earnings and hiking full‑year guidance, the database specialist has surged more than 25% and hit a fresh 52‑week high, triggering a wave of analyst upgrades and new price targets as high as $500 per share. ^[1]

All data and commentary in this article are current as of Tuesday, December 2, 2025.

MDB stock today: new highs and heavy volume

MongoDB shares closed at $328.87 on Monday, December 1. ^[2]

Following last night’s earnings release, MDB:

Jumped more than 20% in pre‑market trading, with quotes around $408, already above its prior 52‑week high near $385.44. ^[3]
Traded in regular hours between roughly $400 and $420, with MarketWatch showing an intraday quote around $416.53, up about 26% on volume well above the 65‑day average. ^[4]
Sat around $409–$410 in early afternoon trading, implying a single‑day gain of roughly 25% and a market cap in the $27–28 billion range. ^[5]

An Investing.com update confirmed that MDB set a new 52‑week high near $407.22 earlier in the session. ^[6]

For context, the stock’s prior 12‑month range ran from about $140.78 to $385.44, so today’s move effectively resets the ceiling investors will be watching. ^[7]

Blowout Q3 fiscal 2026 earnings: what MongoDB just delivered

MongoDB’s rally is being driven by a very strong third quarter of fiscal 2026 (quarter ended October 31, 2025).

Headline numbers

According to the company’s official earnings release and syndicated copies: ^[8]

Total revenue:
- $628.3 million, up 19% year‑over‑year.
Atlas cloud database (MongoDB Atlas):
- Revenue up 30% YoY, now 75% of total revenue.
Subscription revenue:
- $609.1 million, up 19% YoY.
Services revenue:
- $19.2 million, up 12% YoY.
Gross profit:
- $449.1 million, 71% GAAP gross margin (74% non‑GAAP).
Profitability:
- GAAP net loss of just $2.0 million (‑$0.02 per share), improved from a $9.8 million loss a year earlier.
- Non‑GAAP net income of $114.5 million, or $1.32 per share, versus a non‑GAAP loss per share in the prior year. ^[9]
Cash and liquidity:
- About $2.3 billion in cash, cash equivalents, short‑term investments and restricted cash.
- Cash from operations of $143.5 million and free cash flow of $140.1 million, up sharply from $34.6 million a year earlier. ^[10]
Customers:
- 2,600 net new customers in the quarter, bringing the total to over 62,500. ^[11]

Wall Street had been looking for revenue of roughly $592–$594 million and EPS around $0.79–$0.81, so MongoDB beat on both the top line and bottom line by a wide margin. ^[12]

Independent recaps from Finviz and CoinCentral highlight: ^[13]

Revenue beat consensus by about $35 million+.
Adjusted EPS of $1.32 was roughly 60–70% above analyst expectations.
Adjusted operating income of $123.1 million, a 19.6% margin, crushed estimates near $70–71 million.

Management’s message

New CEO Chirantan “CJ” Desai, who recently took over from long‑time chief Dev Ittycheria, emphasized “profitable growth,” accelerating Atlas usage and strong demand across the Americas and EMEA. ^[14]

MongoDB also flagged:

Growing momentum in AI‑related workloads, particularly around integrated vector search and related capabilities. ^[15]
Continued strength in both self‑serve and enterprise channels. ^[16]
Recognition as a Leader in Gartner’s Magic Quadrant for Cloud Database Management Systems, reinforcing a premium positioning in its category. ^[17]

Raised guidance: why forecasts for MDB are being torn up

The earnings beat would have been impressive on its own. What really moved the stock, though, was much stronger guidance.

Q4 and full‑year outlook

Across the company’s own release, MT Newswires and multiple recaps, MongoDB’s updated outlook now includes: ^[18]

Q4 fiscal 2026 guidance
- Revenue: $665–$670 million (vs prior Street estimates around $624–$627 million).
- Adjusted EPS: $1.44–$1.48 (vs consensus near $0.93).
Full‑year fiscal 2026 guidance
- Revenue: $2.434–$2.439 billion, up from a prior range of $2.34–$2.36 billion and ahead of consensus (~$2.36B).
- Adjusted EPS: company mid‑point around $4.76–$4.80, versus a previous range around $3.64–$3.73 and pre‑print analyst consensus near $3.75. ^[19]

In plain English: MongoDB just told the market it expects far more profit this year than analysts had modeled, even as revenue growth remains close to 20%.

Investing.com notes that, prior to the guidance hike, Wall Street already expected MDB to turn meaningfully profitable in fiscal 2026, with a consensus EPS forecast around $3.98. ^[20] The new company outlook implies that EPS estimates will need to be revised considerably higher.

Longer‑term growth forecasts

Independent data platforms that aggregate analyst models still show strong long‑term expectations for MongoDB, even before these newer guidance upgrades are fully baked in:

Simply Wall St estimates that: ^[21]
- Earnings are expected to grow around 40% per year over the next few years.
- Revenue is forecast to rise about 14–15% per year, faster than the projected U.S. market growth.
- Return on equity could reach roughly 13% in three years as profitability improves.
StockAnalysis shows analysts modeling, on average: ^[22]
- Revenue around $2.4 billion in 2026, trending higher thereafter.
- EPS averages near $3.75 for 2026 and $4.35 for 2027 before incorporating today’s guidance boost.
WallStreetZen and other aggregators similarly project a sharp swing from a small GAAP loss in 2025 to hundreds of millions of dollars in net income mid‑decade. ^[23]

Taken together, the picture is of a company expected to grow double digits on the top line while moving rapidly into solid profitability — a key ingredient in today’s rerating.

Wall Street reaction: wave of price target upgrades for MDB stock

The earnings/guidance combo has unleashed a flood of analyst upgrades and target hikes on December 2, often from already‑bullish firms.

Among the notable moves:

Piper Sandler
- Rating: Overweight
- New price target: $490 (up from $400) ^[24]
- Rationale: accelerating Atlas growth to 30% YoY, strong consumption trends and the potential to exceed the “Rule of 40” (revenue growth + profit margin) given 72%+ gross margins and improving profitability. ^[25]
Baird
- Rating: Outperform
- New price target: $500 (from $335), now the street‑high estimate. ^[26]
Cantor Fitzgerald
- Rating: Overweight
- New price target: $454 (from $406), citing a continued positive trend in recent analyst actions. ^[27]
RBC Capital
- Rating: Outperform
- New price target: $450 (from $405). ^[28]
Scotiabank
- Rating: Sector Perform (a more cautious stance)
- New price target: $415, raised from $320, acknowledging strong fundamentals but stopping short of an outright “buy.” ^[29]
Rosenblatt
- Rating: Buy
- New price target: $425, up from $385. ^[30]

MarketWatch and Investing.com also flag a long list of additional upgrades: Oppenheimer, Guggenheim, DA Davidson, Stifel, Needham and others have all lifted their targets into the $450–$465 range following the print. ^[31]

Consensus now vs. MDB’s new price

Before today’s surge and the latest round of revisions:

TipRanks showed MDB with a Strong Buy consensus from 30 analysts, an average 12‑month price target of $385.41, a high of $440 and a low of $305. ^[32]
MarketBeat reported an average target around $378–$379, with a range from roughly $170 to $490, and a “Moderate Buy” rating. ^[33]
GuruFocus and related coverage placed the average target near $374–$375, based on about 38 analysts, implying mid‑teens upside from the prior close. ^[34]

With MDB now trading roughly $410+, the stock already exceeds the pre‑rally average price targets, but still sits below the most aggressive new estimates around $490–$500.

In other words, analyst sentiment is very bullish, but valuation has also raced ahead of many existing models, which will need to be updated in the days ahead.

AI and Atlas: the heart of the MongoDB bull case

Today’s move isn’t just about a one‑off beat. Much of the debate around MDB centers on whether it can become a foundational data platform for the AI era.

Atlas as the growth engine

MongoDB’s growth is increasingly driven by Atlas, its fully managed, multi‑cloud database‑as‑a‑service offering:

Atlas revenue grew 30% year‑over‑year in Q3 and now makes up about three‑quarters of total revenue. ^[35]
Management attributes the acceleration to:
- More workloads from large enterprises, particularly in the U.S. and EMEA.
- Strong performance from self‑serve developer channels. ^[36]

Seeking Alpha’s tech coverage notes that MongoDB is seen by many analysts as well positioned to power AI applications thanks to Atlas’s flexible document model and integrated AI tools. ^[37]

AI features and the Voyage AI acquisition

Recent product and strategic moves that feed into the AI narrative include: ^[38]

Making search and vector search capabilities available not just in Atlas but also in the Community and Enterprise Server editions.
The February acquisition of Voyage AI, aimed at strengthening MongoDB’s vector and embedding capabilities.
Targeted developer‑focused events and conferences (such as the relaunch of the company’s .local events) to deepen engagement with AI‑native startups and builders.

However, management and independent analysts also caution that enterprise AI adoption is still early. Many customers remain in pilot or experimental phases, and large‑scale, revenue‑heavy AI deployments are not yet the norm. ^[39]

Valuation check: MDB is still a high‑expectations stock

Even after years of strong growth, MongoDB is not a “cheap” stock by traditional metrics.

Sales and profitability profile

From recent filings and data providers: ^[40]

Trailing‑twelve‑month revenue is about $2.2 billion.
With a market cap near $27 billion, MDB trades at roughly 12× trailing sales (27 ÷ 2.2 ≈ 12).
GAAP net income remains slightly negative, but non‑GAAP profits and free cash flow are solidly positive and trending higher.
Piper Sandler and others highlight that MongoDB’s gross margins above 70% and improving operating margins give it a real shot at exceeding the Rule of 40 for software companies (growth % + margin % > 40). ^[41]

Stock‑screening sites like MarketBeat still show a negative GAAP P/E (reflecting the residual net loss), a beta above 1.5(indicating above‑market volatility), and a 12‑month high that has just been reset by today’s spike. ^[42]

Technical backdrop and prior skepticism

Interestingly, purely technical models had turned cautious on MDB heading into earnings:

As of Monday, December 1, StockInvest rated MDB a “sell candidate” based on moving averages and momentum, noting that the stock had fallen in 7 of the last 10 sessions and was trading near the bottom of its short‑term rising trend. ^[43]

That call now looks dated after a 25% gap‑up, but it underlines how quickly the narrative can flip on high‑beta growth names when fundamentals surprise.

Ownership trends: big institutions buying, insiders selling

MarketBeat’s breakdown of recent filings shows notable shifts in who owns MDB: ^[44]

Russell Investments Group Ltd. increased its stake by 94.1% in Q2, buying 45,057 additional shares to reach 92,939 shares worth about $19.5 million, or 0.11% of the company.
Several other institutional investors – including MIG Capital, Laurel Wealth Advisors and Prudential Financial– also boosted positions.
Overall, institutional investors now hold roughly 89% of MongoDB’s shares, reflecting strong interest from professional money managers.

On the flip side:

Insiders have sold roughly 91,000+ shares over the last three months, worth nearly $29.8 million at the time of sale.
These include transactions by co‑founder Dwight Merriman and other directors as the stock traded in the mid‑$300s. ^[45]

Insider selling at high prices is common in longtime growth winners and does not automatically signal distress, but it’s a data point many investors monitor, especially when valuations climb.

Bull vs. bear: how investors are framing MDB after the spike

With MDB now above $400, the debate shifts from “is the business working?” to “how much of that success is already priced in?”

The bull case

Supporters of the stock tend to emphasize: ^[46]

Structural tailwinds
- Ongoing migration from legacy relational databases to modern, developer‑friendly platforms.
- Enterprises standardizing on fewer, more flexible data platforms for both transactional and analytical workloads.
Atlas and AI leverage
- Atlas’ 30% growth and 75% revenue share signal a powerful, high‑margin engine.
- Integrated vector search and AI features put MongoDB in the conversation as a core data layer for AI applications.
Execution and financial quality
- Revenue still growing near 20% despite MongoDB’s larger scale.
- Rapid improvement in free cash flow and non‑GAAP profitability, coupled with a strong balance sheet(more cash than debt and a current ratio north of 5). ^[47]
- Five‑year revenue CAGR around 33–37%, marking MongoDB as one of the stronger consistent growers in enterprise software. ^[48]
Street support
- A Strong Buy / Moderate Buy consensus from dozens of analysts. ^[49]
- Fresh targets up to $500, implying more upside if MongoDB delivers on its AI and margin ambitions. ^[50]

The bear (or cautious) case

More skeptical investors focus on a different set of facts: ^[51]

Rich valuation
- Even after turning the corner on profitability, MDB trades at roughly 12× trailing revenue, a premium to many other software names with similar growth.
- At today’s price, the stock sits above pre‑rally consensus price targets, leaving less margin for error if growth slows.
Growth deceleration from earlier years
- While 19–20% revenue growth is strong, it is slower than the 30–40% pace seen earlier in MongoDB’s life cycle.
- Simply Wall St forecasts mid‑teens revenue growth going forward, which may not justify such a high multiple if execution stumbles. ^[52]
Competitive and platform risk
- MongoDB competes – and partners – with cloud giants like Amazon (AWS), Microsoft Azure and Google Cloud, who all promote their own databases and data platforms. ^[53]
- Other data‑infrastructure players such as Snowflake are also vying to be the default choice for AI and analytics workloads. ^[54]
Volatility and sentiment swings
- MDB is a high‑beta name that can move 5–10% in a single session even absent earnings. ^[55]
- Technical services were leaning bearish just yesterday, underlining how quickly sentiment can reverse and how painful it can be to mistime entries. ^[56]

Because of these factors, some commentators (including MarketBeat’s editorial team) continue to label MongoDB a “Moderate Buy” rather than a must‑own core holding, and highlight other stocks they see as having more favorable risk‑reward at current levels. ^[57]

What investors should watch from here

Without telling you whether to buy, hold, or sell, we can outline key things to monitor if you’re tracking MDB stock after today’s move:

Atlas growth and consumption trends
- Does Atlas continue to grow at or above 30% year‑over‑year, or does growth flatten back toward the low‑to‑mid 20s? ^[58]
AI traction beyond the hype
- Evidence that vector search, embeddings and AI‑centric workloads are moving from pilot to productionwithin large enterprises will be crucial for justifying the new valuation. ^[59]
Margins and free cash flow
- Investors will be watching whether MongoDB can sustain and expand its new, higher profitability levels while still investing heavily in R&D and go‑to‑market. ^[60]
Competitive dynamics with hyperscalers and Snowflake
- Any signs that cloud vendors are pushing harder for their own database solutions at MongoDB’s expense—or, conversely, deepening partnerships—could move the stock. ^[61]
Valuation vs. growth
- With the share price now above many existing price targets, MDB will likely need to keep beating and raising to avoid multiple compression.

Final thoughts (and a quick disclaimer)

MongoDB’s Q3 fiscal 2026 report is the kind of print that can reset a narrative: growth reaccelerated in its key cloud product, profitability and free cash flow stepped up, and management signaled confidence with a big guidance raise. Wall Street’s reaction—new targets up to $500, a wall of “buy” ratings, and intense trading volume—reflects that shift. ^[62]

At the same time, MDB remains a high‑expectation, high‑volatility growth stock. The bar for future quarters has just been lifted, and the share price now embeds more of the good news than it did 24 hours ago.

This article is for informational and educational purposes only and does not constitute investment advice, a recommendation, or a solicitation to buy or sell any security. Markets can move quickly and unpredictably; if you’re considering an investment in MongoDB or any other stock, it’s wise to weigh your own risk tolerance, time horizon, and diversification, and to consider speaking with a qualified financial advisor before making decisions.