MongoDB (MDB) Added to Wedbush Best Ideas List as AI Use Cases Expand

MongoDB, Inc. (NASDAQ:MDB) is one of the AI Stocks You Should Not Ignore. On September 15, Wedbush reiterated the stock as “Outperform” and raised the firm’s price target to $400 from $300. The firm also added the cloud software company to its best ideas list.

“We maintain our OUTPERFORM rating and believe MongoDB is now starting to hit its next stride as the AI use cases expand significantly over the coming years. We are also adding MongoDB to the Wedbush Best Ideas List.”

The firm has shifted its focus on upmarket opportunities across enterprise channels, particularly within US Enterprise. It also sees stability in the mid-market pointing to the success that MongoDB is having in the artificial intelligence revolution.

“We believe MDB has barely scratched the surface of its growth potential given the benefits from AI are still in the early innings.”

It also believes that the company is entering its next phase of growth as AI use cases significantly expand over the coming years.

MongoDB, Inc. (NASDAQ:MDB) provides a general-purpose database platform worldwide that integrates operational, unstructured, and AI-related data to streamline building applications.

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