10 AI Stocks Taking Wall Street by Storm

5. MongoDB, Inc. (NASDAQ:MDB)

Number of Hedge Fund Holders: 49

MongoDB, Inc. (NASDAQ:MDB) is a database management system (DBMS) that supports operational, unstructured, and AI-related data to streamline building applications. On December 16, Monness Crespi downgraded MongoDB to “Sell” from Neutral with a $220 price target. The analyst is bearish on the stock, citing “unforgivable forces” from which MongoDB cannot escape. In particular, the MongoDB Atlas, the company’s integrated suite of data services centered around a cloud database, is struggling with slow growth and is “void of the powerful tailwind implicit in the industry’s gen AI propaganda”. This implies that the MongoDB Atlas is failing to benefit from the strong momentum in the industry surrounding generative AI. To make matters worse, the company is also struggling with its sales strategy, and the CFO also quit last week.