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MongoDB price target raised to $53 after earnings at Stifel. Stifel analyst Brad Reback said all of MongoDB's key financial metrics came in ahead of consensus estimates in Q1, pointing to "robust" Atlas growth, "steady" subscription gross margin and billings that topped expectations as highlights. Citing his belief MongoDB can drive recurring revenue growth of at least 30% and improving profitability in coming years, Reback reiterated a Buy rating on the stock and raised his price target to $53 from $47.

MongoDB price target raised to $62 from $50 at KeyBanc. KeyBanc analyst Brent Bracelin raised his price target for MongoDB to $62 from $50, citing "strong" Q1 momentum with upside driven by 49% year over year growth and accelerating metrics for customers spending over $100K. The analyst believes the multiyear opportunity to sustain high growth in a large TAM warrants a premium. He reiterates an Overweight rating on the shares.

MongoDB price target raised to $54 from $45 at Canaccord. Canaccord analyst Richard Davis raised his price target on MongoDB to $54 from $45 following Q1 results he called "solid." The analyst said the company saw upside in billings, revenues, gross margins, operating margins, and free cash flow. While noting valuation is high, Davis said he would buy the shares on a pullback. Davis reiterated his Buy rating on MongoDB shares.

MongoDB price target raised to $57 from $47 at Barclays. Barclays analyst Raimo Lenschow raised his price target for MongoDB to $57 saying last night's "healthy" Q1 results once again highlight that enterprise customer traction for the company is accelerating. The AWS partnership announced in Q4 and the enhanced relationship with IBM should also serve as further catalysts for Atlas adoption in the coming quarters, Lenschow tells investors in a research note. The analyst believes MongoDB's growth is in the "early innings" and he keeps an Overweight rating on the shares.

MongoDB at risk of hitting year margin outlook, says Nomura Instinet. Nomura Instinet analyst Christopher Eberle views MongoDB's Q1 results as "decent" noting its operating margins improved just 240 basis points year-over-year to 45%. Longer term profitability of the business model represents the analyst's biggest concern. He sees see risk in the company hitting the full year operating margin outlook of 38% and reiterates a Neutral rating on the shares with a $40 price target.

MongoDB price target raised to $40 from $31 at Nomura Instinet. Nomura Instinet analyst Christopher Eberle raised his price target for MongoDB to $40 ahead of the company's Q1 results on June 6. He keeps a Neutral rating on the shares. Given the high valuation multiple, MongoDB will need to deliver results that materially exceed estimates to meet the high expectations, Eberle tells investors in a pre-earnings research note.

MongoDB price target raised to $52 from $43 at Needham. Needham analyst Jack Andrews raised his price target for MongoDB to $52 ahead of the company's Q1 results on June 6. The analyst expects a "strong" quarter after his "broad industry checks" indicated "robust" demand. Further, he believes the release of MongoDB 4.0 is tracking for an on-time release in the summer. The analyst keeps a Buy rating on the shares.