Market Overview

DA Davidson Sees Near-Term Stabilization In MongoDB

DA Davidson Sees Near-Term Stabilization In MongoDB

As it closes out its first year on the public markets, Mongodb Inc (NASDAQ: MDB) is celebrating 137-percent growth in value — a trajectory experts expect to soon stabilize.

The Rating

D.A. Davidson analyst Rishi Jaluria initiated coverage with a Neutral rating and $80 price target.

The Thesis

Davidson considers MongoDB’s run and peer premium justified given the firm’s high growth rate and significant market opportunity. But while bullish long term, the analyst anticipates a near-term pullback in the “fully valued” shares.

“MongoDB has a unique software business model under AGPL, which gives MongoDB a competitive moat while still allowing for community-based innovation,” Jaluria wrote in a note.

By the analyst’s assessment, MongoDB is one of the fastest-growing software companies and still boasts growth opportunities in portfolio expansion and market-share poaching from the likes of Oracle Corporation (NYSE: ORCL).

“We like MongoDB’s strong value proposition and believe the company is well-positioned to benefit from companies modernizing their database technologies and moving workloads from legacy on-premise relational databases, including Oracle, to next-generation solutions, including MongoDB, that are significantly less expensive and document-based,” Jaluria wrote.

He forecasts a 2019 non-GAAP bottom-line of $(1.62) on 48-percent revenue growth.

Price Action

At time of publication, shares were trading at $76.03.

Related Links:

Analyst Downgrades Mongodb To Reflect 'Intense Competition'

Wall Street Debates MongoDB's Q4 Report

Latest Ratings for MDB

Oct 2019MaintainsEqual-Weight
Oct 2019MaintainsOutperform
Sep 2019MaintainsEqual-Weight

View More Analyst Ratings for MDB
View the Latest Analyst Ratings

Posted-In: D.A. Davidson Rishi JaluriaAnalyst Color Price Target Initiation Analyst Ratings Best of Benzinga


Related Articles (ORCL + MDB)

View Comments and Join the Discussion!

Latest Ratings

YEXTMorgan StanleyMaintains15.0
WKMorgan StanleyMaintains42.0
RAMPMorgan StanleyMaintains58.0
PDMorgan StanleyMaintains34.0
HTHTDaiwa CapitalDowngrades
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

Caterpillar, Denbury, Northrop Grumman, Ross Stores, XLE: 'Halftime Report' Final Trades For Oct. 3

Mid-Afternoon Market Update: Crude Oil Rises 1.75%; VistaGen Therapeutics Shares Spike Higher