MongoDB Gains >2% as Citi Lifts Target

Citi analysts reiterated Buy on MongoDB and raised price target from $400 to $450, citing accelerating AI-driven demand.
MongoDB shares rose over 2% in pre‑market trading, despite a 30% year‑to‑date decline after a weak March outlook.
Citi’s proprietary checks suggest Atlas usage is ramping at AI customers, projecting Q1 Atlas growth above 30%, a 2‑point lift vs Q4.
Citi now models 30% Atlas growth for FY2027, well above prior guidance and consensus estimates.