12 Most Promising Growth Stocks According to Wall Street Analysts

3. MongoDB, Inc. (NASDAQ:MDB)

Analyst Upside as of January 23, 2025: 53%

Number of Hedge Fund Holders: 49

MongoDB, Inc. (NASDAQ:MDB) is a software company that develops and provides commercial support for the database engine, MongoDB. As part of its latest release, MongoDB 8.0 offers a 36% higher throughput, horizontal scaling, improved queryable encryption, and faster speed. In addition to that, its AI platform, Atlas, is the company’s defining feature. The tool is growing rapidly due to its unmatched capabilities in semantic search, recommendation engine development, data detection, and context for generative AI applications.

On January 22, the research team at Morgan Stanley shared their bullish outlook on the software industry, claiming that MDB is set to benefit from the new software cycle. The research team suggested that the software industry is now emerging from three years of “organization” and “digestion.” In addition to that, the wave of generative AI offers greater potential to software. MongoDB, Inc. (NASDAQ:MDB) is a top pick in the software category for Atlas, its data management capabilities, and sound financial performance.

In the third quarter of 2024, MongoDB, Inc. (NASDAQ:MDB) grew its total revenue by 22% and revenue from its platform, Atlas, by 26% year-over-year. At the end of the third quarter of 2024, 49 hedge funds were bullish on the stock.