MongoDB Inc. (MDB) surged 22.33% in pre-market trading Tuesday, following the release of its third-quarter fiscal 2026 results, which significantly exceeded analyst expectations. The stock's sharp rise reflects investor optimism after the company reported robust financial performance and raised its full-year outlook.

The database software leader posted Q3 revenue of $628.3 million, beating the consensus estimate of $595.6 million, while adjusted earnings per share came in at $1.32, well above the $0.80 forecast. MongoDB also raised its full-year revenue guidance to $2.434 billion-$2.439 billion, up from previous estimates, and adjusted EPS guidance to $4.76-$4.80, signaling confidence in continued growth.

The strong performance was driven by a 30% year-over-year growth in Atlas revenue, MongoDB's cloud-based database service, which now accounts for 75% of total revenue. The company attributed the outperformance to increasing demand for its AI-powered solutions and deepening integration with cloud platforms like Google Cloud.

Analysts from D.A. Davidson, Piper Sandler, RBC, and Scotiabank raised their price targets on MongoDB, reflecting bullish sentiment. The upgrades underscore MongoDB's positioning as a key beneficiary of the AI-driven cloud computing boom.