Stock market today: S&P 500 climbs as ongoing AI-led rebound pushes tech higher
After reporting Q3 fiscal year 2026 (FY2026) results on Dec. 1, MongoDB (NASDAQ:MDB) is seeing sentiment improve following pressure in Q1 and early Q2. The data tracked by MarketBeat shows that analyst and institutional support are swelling, driving an influx of capital that has this stock on track to rise by 25% relative to mid-December price levels. The 25% target is likely a low-ball estimate as these trends are developing and the upcoming earnings releases will be strong.
MongoDB emerged as a mission-critical component of AI infrastructure in 2025. Its "Not Only SQL" (NoSQL) database structure, which uses document-like data storage rather than traditional rows and columns, provides the flexibility and performance for complex systems, specifically those with multiple users, queries, or sharding, allowing them to scale and grow as needed. The MongoDB Atlas platform is an extension of its services, enabling the automated launch of MongoDB databases across cloud environments. Perfect for AI development and agentic applications.
Raymond James Highlights Humongous Opportunity in MongoDB
The analyst trends for MongoDB stock are robust, including increased coverage, up 60% in 12 months to 42; a strong Moderate Buy rating, with most new ratings pegged at Buy or better; and an uptrend in the price target. The most recent update tracked by MarketBeat is from Raymond James, which initiated at Market Perform while setting the Street-high target of $525. In their view, MongoDB is the most strategically crucial independent database on the market. The company faces a humongous opportunity in AI, but execution is critical amid intensifying competition. While MongoDB is the leader now, disruption is inevitable without innovation.
The institutional trends are also driving this market higher. The group, which owns 90% of the stock, sold heavily in the first quarter of calendar year 2025 but reverted to buying in the second quarter and ramped up activity through the first half of the fourth quarter. The takeaway is that this stock is being accumulated by institutions, money managers, and retail investors, suggesting rapid stock price increases lie ahead. Likewise, the short interest, which is not astronomically high, has been falling steadily since mid-year, providing additional lift for this market.
As it stands, the consensus target for MDB assumes the stock is fairly valued in mid-December. However, the consensus is up nearly 20% from its mid-year lows, with the high-end pointing to $525. The $525 target forecasts a 25% upside and is sufficient for a long-term high. The long-term high is significant as it sets the market up for a run to retest the record highs, a 40% gain when reached.
Chart action reflects the influx of capital. Monthly price action reveals steady buying since April 2025, with the market on track to hit critical resistance soon. The December resistance target is near $470, aligning with prior resistance levels, and is a potential pivot point for this market. Assuming MDB stock can move above it and sustain the move, technical projections indicate that it could rise by $170 to $300 over the subsequent few quarters.
MongoDB Results Prove Its Position for 2026 Is Secure
MongoDB’s fiscal Q3 2026 results were impressive and confirmed its position for calendar year 2026. The company’s revenue growth slowed sequentially and year-over-year, but was nonetheless strong, rising nearly 19% and outpacing the consensus estimate by more than 300 basis points.
The strength was driven by new and existing clients, underpinned by Atlas’ growth, which is expected to remain healthy in the upcoming year. Margin and profitability are also noteworthy, as the high-margin business saw significant improvement in leverage. The net earnings result was 6,500 basis points better than expected, leading to hot guidance likely to be exceeded by actual results.