BofA and Stifel Stay Bullish on MongoDB (MDB)

MongoDB, Inc. (NASDAQ:MDB) is one of the 10 Best AI Software Stocks to Buy Right Now. On January 30, BofA Securities raised its price target on MongoDB, Inc. (NASDAQ:MDB) from $480 to $500 and kept its Buy rating.

The research firm pointed to MongoDB, Inc.’s (NASDAQ:MDB) Atlas business, which reported 30% year-over-year revenue growth in the third fiscal quarter, compared with 29% in the second quarter. BofA Securities also highlighted the company’s successful dual strategy of top-down enterprise sales and bottom-up product-led growth. The firm noted that MongoDB, Inc. (NASDAQ:MDB) continues to expand its product portfolio for AI and modernization of legacy applications.

Earlier, on January 20, Stifel analyst Brad Reback also reiterated a Buy rating on MongoDB, Inc. (NASDAQ:MDB) following the company’s user conference in San Francisco. During the event, the company announced several new AI capabilities.

The firm’s analyst pointed out that MongoDB, Inc.’s (NASDAQ:MDB) Atlas users will now be able to directly use Voyage AI models. This will strengthen the platform’s AI capabilities and add more value for existing users.

MongoDB, Inc. (NASDAQ:MDB) is an American software company that is known for its globally distributed database platform that supports applications with integrated capabilities for operational data, search, real-time analytics, and AI-powered data retrieval.

While we acknowledge the potential of MDB as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.