Rosenblatt raised its price target on MongoDB from $395 to $445, maintaining a Buy rating after the company reported stronger-than-expected second-quarter fiscal 2027 results. MongoDB's revenue grew 30% year-over-year, surpassing estimates by about 5%, and its Atlas cloud business grew 29% to account for 73% of total revenue, with a run-rate above $2 billion. The company added a record 2,900 customers, nearly doubled its free cash flow to $137.6 million, and raised its full-year revenue outlook to $2.99-$3.03 billion. Despite these results, the stock fell over 12% in pre-market trading as investors had expected faster Atlas growth, with some hedge funds privately anticipating 30.5-31% growth. CEO Chirantan Desai expressed surprise at the decline, noting that Atlas growth acceleration is a matter of 'when, not if.'
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