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MDB vs. SNOW: Which Data Platform Stock is the Better Buy Now?
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Key Takeaways
MDB's Atlas, cloud platform is seeing strong enterprise adoption for modern, AI-driven application workloads.
Snowflake is growing its enterprise analytics presence with a unified platform for data engineering and AI.
MongoDB appears more attractively valued than Snowflake amid stronger momentum and fewer pressures.
MongoDB (MDB - Free Report) and Snowflake (SNOW - Free Report) are well-known cloud-based data platform providers that help enterprises manage and analyze massive data workloads in modern cloud environments. While MongoDB is recognized for its flexible, developer-friendly database solutions, Snowflake is rapidly growing its presence in enterprise data warehousing and analytics.
Per Mordor Intelligence, the database market is estimated to grow from $171.36 billion in 2026 to $329.05 billion by 2031, at a CAGR of 13.95%. This expansion is underpinned by rapid enterprise adoption of generative AI workloads, widening data-sovereignty regulations and an explosion of IoT-generated data streams. Both MongoDB and Snowflake are positioned to capture significant portions of this substantial market opportunity.
Let's delve deep to determine which one is a better investment now.
The Case for MDB
MongoDB’s prospects are being supported by ongoing product innovation and growing adoption of its platform for modern, cloud-based workloads. Demand for MongoDB Atlas, its fully managed cloud offering, has remained strong, with Atlas accounting for over 75% of total revenues in the fiscal third quarter. The rising contribution from Atlas reflects increasing enterprise preference for consumption-based deployment models that align infrastructure costs with actual usage patterns.
MongoDB continues to enhance its product capabilities to support analytics and AI-driven applications. Features such as vector search, text search and analytics have been integrated directly into the core database, simplifying data architectures and enabling applications to work more efficiently with live operational data. The document model architecture provides a natural fit for handling variable data structures generated by AI systems, while unified search capabilities support retrieval-augmented generation workloads. The company strengthened its AI positioning through the acquisition of Voyage AI in early 2025, adding advanced embedding and reranking models that enhance information retrieval accuracy.
MongoDB's market position is reinforced by a strong partner ecosystem spanning hyperscale cloud providers and technology partners, creating multiple pathways for customer acquisition and workload expansion. The platform serves more than 70% of the Fortune 100, demonstrating deep enterprise penetration where cross-selling opportunities remain significant. The customer base grew to over 62,500 by the third quarter, with approximately 2,600 net additions driven primarily through self-service adoption, signaling a notably efficient acquisition channel.
The Zacks Consensus Estimate for MDB's fiscal 2026 EPS is pegged at $4.79, unchanged over the past 30 days, suggesting year-over-year growth of 30.87%.
Snowflake's business model centers on providing a cloud data warehouse platform that enables organisations to consolidate and analyze structured and semi-structured data across multiple cloud environments. The platform's consumption-based pricing model aligns revenues with actual customer usage, creating flexibility for enterprises while introducing variability based on workload patterns. Product revenue reached $1.16 billion in the fiscal third quarter, reflecting 29% year-over-year growth driven by data engineering and AI workloads.
Snowflake has expanded its product capabilities to address analytics and AI requirements through Snowflake Intelligence, its agentic AI platform. The offering achieved adoption by 1,200 customers shortly after launch and generated a $100 million annual run rate. The platform enables organizations to run analytics and AI workloads within a unified environment, reducing infrastructure complexity. The company serves 776 Global 2000 customers, demonstrating penetration within large enterprises where data warehouse consolidation requirements remain substantial. Snowflake has developed partnerships with enterprise software providers, including SAP, Workday, Splunk and Palantir, creating integration pathways that extend the platform's ecosystem reach and facilitate data sharing across enterprise applications.
However, the consumption model creates revenue sensitivity to customer optimization behavior and economic conditions affecting analytics spending. Long-term performance depends on sustaining workload growth as AI adoption matures, while managing competitive pressures from cloud providers offering integrated analytics capabilities.
The Zacks Consensus Estimate for SNOW's fiscal 2026 EPS is pegged at $1.2, unchanged over the past 30 days, suggesting year-over-year growth of 44.58%.
Over the past six months, MongoDB's shares have risen 79.9%, outperforming Snowflake, whose shares declined 2.5%. MongoDB's stronger price performance reflects market recognition of accelerating Atlas growth and expanding self-service customer acquisition efficiency. Snowflake's weaker performance has been influenced by concerns around consumption model variability and competitive pressures from cloud providers offering integrated analytics capabilities.
MDB vs. SNOW Price Performance
Image Source: Zacks Investment Research
MongoDB trades at a forward 12-month price-to-sales of 11.4x, which compares favorably with Snowflake's 12.66x, despite MongoDB's stronger share price performance over the past six months. The valuation gap suggests MongoDB's accelerating Atlas momentum and architectural advantages for AI workload deployment are not yet fully reflected in its multiples, while Snowflake's valuation continues to embed higher expectations around consumption expansion despite competitive pressures from hyperscaler-integrated analytics offerings.
MDB vs. SNOW Valuation
Image Source: Zacks Investment Research
Conclusion
While both MongoDB and Snowflake are positioned to benefit from the expanding database market, MongoDB’s growth profile appears more compelling at this stage. Snowflake offers exposure to enterprise analytics consolidation but faces a richer valuation and weaker recent share performance amid rising competitive pressure. MongoDB, by contrast, is benefiting from accelerating Atlas momentum, efficient self-service customer acquisition and architectural advantages that are better aligned with AI workload deployment.
Image: Bigstock
MDB vs. SNOW: Which Data Platform Stock is the Better Buy Now?
Key Takeaways
MongoDB (MDB - Free Report) and Snowflake (SNOW - Free Report) are well-known cloud-based data platform providers that help enterprises manage and analyze massive data workloads in modern cloud environments. While MongoDB is recognized for its flexible, developer-friendly database solutions, Snowflake is rapidly growing its presence in enterprise data warehousing and analytics.
Per Mordor Intelligence, the database market is estimated to grow from $171.36 billion in 2026 to $329.05 billion by 2031, at a CAGR of 13.95%. This expansion is underpinned by rapid enterprise adoption of generative AI workloads, widening data-sovereignty regulations and an explosion of IoT-generated data streams. Both MongoDB and Snowflake are positioned to capture significant portions of this substantial market opportunity.
Let's delve deep to determine which one is a better investment now.
The Case for MDB
MongoDB’s prospects are being supported by ongoing product innovation and growing adoption of its platform for modern, cloud-based workloads. Demand for MongoDB Atlas, its fully managed cloud offering, has remained strong, with Atlas accounting for over 75% of total revenues in the fiscal third quarter. The rising contribution from Atlas reflects increasing enterprise preference for consumption-based deployment models that align infrastructure costs with actual usage patterns.
MongoDB continues to enhance its product capabilities to support analytics and AI-driven applications. Features such as vector search, text search and analytics have been integrated directly into the core database, simplifying data architectures and enabling applications to work more efficiently with live operational data. The document model architecture provides a natural fit for handling variable data structures generated by AI systems, while unified search capabilities support retrieval-augmented generation workloads. The company strengthened its AI positioning through the acquisition of Voyage AI in early 2025, adding advanced embedding and reranking models that enhance information retrieval accuracy.
MongoDB's market position is reinforced by a strong partner ecosystem spanning hyperscale cloud providers and technology partners, creating multiple pathways for customer acquisition and workload expansion. The platform serves more than 70% of the Fortune 100, demonstrating deep enterprise penetration where cross-selling opportunities remain significant. The customer base grew to over 62,500 by the third quarter, with approximately 2,600 net additions driven primarily through self-service adoption, signaling a notably efficient acquisition channel.
The Zacks Consensus Estimate for MDB's fiscal 2026 EPS is pegged at $4.79, unchanged over the past 30 days, suggesting year-over-year growth of 30.87%.
MongoDB, Inc. Price and Consensus
MongoDB, Inc. price-consensus-chart | MongoDB, Inc. Quote
The Case for SNOW
Snowflake's business model centers on providing a cloud data warehouse platform that enables organisations to consolidate and analyze structured and semi-structured data across multiple cloud environments. The platform's consumption-based pricing model aligns revenues with actual customer usage, creating flexibility for enterprises while introducing variability based on workload patterns. Product revenue reached $1.16 billion in the fiscal third quarter, reflecting 29% year-over-year growth driven by data engineering and AI workloads.
Snowflake has expanded its product capabilities to address analytics and AI requirements through Snowflake Intelligence, its agentic AI platform. The offering achieved adoption by 1,200 customers shortly after launch and generated a $100 million annual run rate. The platform enables organizations to run analytics and AI workloads within a unified environment, reducing infrastructure complexity. The company serves 776 Global 2000 customers, demonstrating penetration within large enterprises where data warehouse consolidation requirements remain substantial. Snowflake has developed partnerships with enterprise software providers, including SAP, Workday, Splunk and Palantir, creating integration pathways that extend the platform's ecosystem reach and facilitate data sharing across enterprise applications.
However, the consumption model creates revenue sensitivity to customer optimization behavior and economic conditions affecting analytics spending. Long-term performance depends on sustaining workload growth as AI adoption matures, while managing competitive pressures from cloud providers offering integrated analytics capabilities.
The Zacks Consensus Estimate for SNOW's fiscal 2026 EPS is pegged at $1.2, unchanged over the past 30 days, suggesting year-over-year growth of 44.58%.
Snowflake Inc. Price and Consensus
Snowflake Inc. price-consensus-chart | Snowflake Inc. Quote
Price Performance and Valuation of MDB and SNOW
Over the past six months, MongoDB's shares have risen 79.9%, outperforming Snowflake, whose shares declined 2.5%. MongoDB's stronger price performance reflects market recognition of accelerating Atlas growth and expanding self-service customer acquisition efficiency. Snowflake's weaker performance has been influenced by concerns around consumption model variability and competitive pressures from cloud providers offering integrated analytics capabilities.
MDB vs. SNOW Price Performance
Image Source: Zacks Investment Research
MongoDB trades at a forward 12-month price-to-sales of 11.4x, which compares favorably with Snowflake's 12.66x, despite MongoDB's stronger share price performance over the past six months. The valuation gap suggests MongoDB's accelerating Atlas momentum and architectural advantages for AI workload deployment are not yet fully reflected in its multiples, while Snowflake's valuation continues to embed higher expectations around consumption expansion despite competitive pressures from hyperscaler-integrated analytics offerings.
MDB vs. SNOW Valuation
Image Source: Zacks Investment Research
Conclusion
While both MongoDB and Snowflake are positioned to benefit from the expanding database market, MongoDB’s growth profile appears more compelling at this stage. Snowflake offers exposure to enterprise analytics consolidation but faces a richer valuation and weaker recent share performance amid rising competitive pressure. MongoDB, by contrast, is benefiting from accelerating Atlas momentum, efficient self-service customer acquisition and architectural advantages that are better aligned with AI workload deployment.
MongoDB sports a Zacks Rank #1 (Strong Buy), making it a better buy compared with Snowflake, which carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.