MongoDB ( MDB ) stock took a hit on March 3 after the database giant beat the Q4 market but disappointing future guidance. As investors reacted to MDB’s view that it did not reflect the artificial intelligence (AI) wind, its relative strength index (14-day) fell to around 29, indicating oversold conditions.
Against this year-to-date high, MongoDB stock is now down about 40%, representing an attractive buying opportunity for those interested in holding it for the long term, according to BofA analysts.
In the earnings call, MongoDB opted for transparency: “AI is not yet a material driver, but we are encouraged by the growth we are seeing with customers leveraging our AI capabilities.”
And Wall Street analysts seem to believe it. In a post-earnings research note, Oppenheimer analyst Ittai Kidron maintained his “outperform” rating with a $375 price target, citing AI as the “catalyst of the future.”
According to Kadrun, a “healthy pipeline conversion, improved development metrics, and technical leadership” could help MDB stock quickly recover from recent year-over-year losses.
Cadron’s price target indicates a potential upside of 45% on this software company.
MongoDB expects its multicloud database service (Atlas) to grow 22% this year — well below the 20% peak investors are accustomed to with artificial intelligence tipping the scales.
But analysts see this not as a slowdown but as a natural progression for the software company.
“MDB has an opportunity to participate in secular trends across databases, cloud and AI,” Brian White, senior analyst at Monis, told clients in a research note.
Note that MongoDB shares are sitting decisively below their key moving average (MA) at the time of writing. Still, a low valuation of around 11x sales could trigger a rally in the near term.
Wall Street analysts remain broadly bullish on MongoDB for the remainder of 2026. According to Barchart, the consensus rating on MDB shares remains at “Strong Buy,” with an average target of around $445 indicating a potential upside of more than 75% from here.
