Key Stats for MongoDB Stock
- Current Price: ~$326 (May 28, 2026)
- Q1 FY27 Total Revenue: $688M, +25% YoY
- Q1 FY27 Adjusted EPS: $1.32, +32% YoY
- Q1 FY27 Atlas Revenue Growth: +29% YoY (fourth consecutive quarter at or above 29%)
- Q1 FY27 Non-GAAP Operating Margin: 18% (vs. 16% in the year-ago period)
- FY27 Revenue Guidance (raised): $2.92B–$2.96B, +19%–20% YoY
- TIKR Model Price Target: ~$700
- Implied Upside: ~115%
MongoDB Stock Surges 10% as Atlas Acceleration and Raised Guidance Reframe the Investment Case
MongoDB (MDB) jumped more than 10% after its Q1 FY27 results showed total revenue of $688M growing 25% year-over-year, beating guidance and accelerating from the 22% growth rate posted in the same quarter of each of the prior two fiscal years.
The acceleration was driven entirely by Atlas, which grew 29% year-over-year and added a record $117M in year-over-year dollar growth in a single quarter.
At a $2B annualized run rate, Atlas has now delivered at least 29% year-over-year growth in four straight quarters.
Chirantan Desai, President and CEO, stated on the Q1 FY27 earnings call that “we are seeing real and growing momentum from AI and agentic workloads and believe MongoDB is purpose-built to be the generational data platform for the agentic era,” connecting that conviction to named deployments across frontier labs, AI-native companies, and large enterprises moving agentic applications into production.
MongoDB now serves 67,700 customers, adding 2,500 in the quarter, and its net ARR expansion rate reached 121%, up from 119% a year ago, with Atlas customers generating at least $100K in ARR rising 16% year-over-year to 2,895 accounts.
Enterprise Advanced, the on-premises business MongoDB had publicly worried about, grew 13% year-over-year in Q1 and is expected to grow approximately 20% in Q2, with management citing continued expansion from finance and technology customers building both traditional and AI applications on-prem.
MongoDB also acquired Clarity Business Solutions, a federal IT services firm with deep security clearances, as the company moves to capture the U.S. government vertical ahead of its expected FedRAMP High certification later in fiscal 2027.
Operating cash flow reached $202M in the quarter, up from $110M a year ago, and free cash flow came in at $198M versus $106M in the year-ago period.
Management raised full-year FY27 revenue guidance to $2.92B–$2.96B, a 200-basis-point increase at the midpoint, and now targets a Rule of 40 performance at the high end of its operating margin outlook.
Is MongoDB Stock Undervalued in 2026? What the TIKR Model Says
TIKR’s base case values MongoDB at approximately $700 by January 2031, implying around 115% total return from the current price of $326, or roughly 18% annualized over approximately 5 years.
If Atlas sustains its current growth trajectory and agentic workloads begin contributing meaningfully to consumption by fiscal 2028 or 2029, the high-case scenario prices MongoDB stock at around $1,588 by January 2035, implying approximately 387% total return, or roughly 20% annualized.
If revenue growth moderates toward the low end of TIKR’s forecast range and multiple compression continues, the low-case scenario prices MongoDB stock at approximately $800 by that same horizon, implying around 146% total return, or roughly 11% annualized.
How Did MongoDB Perform in Q1 FY27 Earnings?
MongoDB delivered adjusted EPS of $1.32 in Q1 FY27, beating the $1.18 Street estimate by approximately 12%. Revenue reached $688M, up 25% year-over-year and above the $664M consensus, with Atlas driving 29% year-over-year growth and adding a record $117M in year-over-year dollar revenue in the quarter.
The primary engine was strength in core enterprise workloads across financial services, technology, and media, with early AI deployments layering on as a secondary accelerator.
Management raised full-year FY27 revenue guidance to $2.92B–$2.96B, a 200-basis-point increase at the midpoint.
Is MongoDB Stock Undervalued?
TIKR’s base case values MongoDB stock at approximately $700 by January 2031, implying around 115% total return from $326, or roughly 18% annualized.
The net ARR expansion rate of 121% and four consecutive quarters of Atlas growth at or above 29% confirm that the underlying consumption engine has not slowed.
The key variable is Atlas growth rate sustainability: if Atlas continues to deliver 25%-plus year-over-year growth through fiscal 2028, the base case holds; if growth decelerates meaningfully below that threshold, the multiple compression risk becomes the dominant factor.
Should You Invest in MongoDB, Inc.?
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