I'm upgrading my rating on MongoDB, Inc. to a Buy after a strong Investor Day, despite CEO CJ Desai's abrupt departure. MDB management unveiled MongoDB 9.0, Atlas Infinite, and Atlas Agent Engine, emphasizing AI as a structural growth driver. Long-term financial targets raised: revenue growth >20% with Atlas projected to grow in mid-twenties, while targeting GAAP profitability by FY27, and annual 100-200 basis points of margin expansion.
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