AI Surge: Cantor Backs MongoDB, Oracle, and monday.com for Strong Growth

Cantor Fitzgerald names MongoDB, Oracle, and monday.com as top AI software plays, citing strong growth and market positioning

Jan 17, 2025

Summary

MongoDB, Oracle, and monday.com earn Overweight ratings as AI demand accelerates, driving cloud, infrastructure, and automation growth.

Cantor Fitzgerald sees MongoDB (MDB, Financial), Oracle (ORCL, Financial), and monday.com (MNDY, Financial) as top plays in AI software and infrastructure, giving all three an Overweight rating. MongoDB, with a $344 price target, leads in NoSQL databases, thanks to its fast-growing cloud service, MongoDB Atlas, now making up 71% of revenue.

Cantor believes AI-driven demand could push growth into the mid-20% range for FY25, beating Wall Street's 17% estimate. Oracle, set at $214, brings AI-powered cloud infrastructure into focus. Its OCI business could jump 60%+ in 2H FY25, as more AI workloads move to its platform. While rising capital expenses may weigh on margins short term, Cantor sees them fueling long-term gains. monday.com, with a $292 price target, stands out in workflow automation, turning $161M in 2023 into nearly $1B in 2024.

Analysts expect new products to boost recurring revenue by 10% in 2025, with ease of use driving more customer adoption.

Disclosures

I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours. Click for the complete disclosure

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