MongoDB receives boosted earnings forecasts from Scotiabank

Scotiabank analysts have raised their fiscal year 2027 earnings per share (EPS) estimates for MongoDB, Inc., moving the forecast from a loss of $0.03 per share to a profit of $0.42 per share. The firm maintains a ‘Sector Outperform’ rating with a $440.00 target price.

This adjustment follows a strong recent quarterly report where MongoDB exceeded consensus estimates, posting $1.90 EPS on revenue of $771.77 million. Other financial institutions, including Barclays, Wells Fargo, and Oppenheimer, have also recently raised their price targets for the company.

In a separate development, MongoDB executives Michael Berry, CFO, and Benjamin Cefalo, Chief Product Officer, participated in the Piper Sandler 5th Annual Growth Frontiers Conference. The discussion addressed the business dynamics between the company’s Atlas service and its Enterprise Advanced (EA) business.