TipRanks

Notifications

MongoDB price target raised to $250 from $240 at Needham

Needham analyst Mike Cikos raised the firm’s price target on MongoDB to $250 from $240 and keeps a Buy rating on the shares. The company’s FY24 revenue outlook was below expectations and reflects a difficult comparison for Enterprise Advanced along with sustained macro headwinds to Atlas as existing workloads grow below historical rates, the analyst tells investors in a research note. The firm adds however that the implied increase in Atlas Revenue screens conservatively, as MongoDB management has assumed no material change in growth of existing workloads.

Published first on TheFly

See Insiders’ Hot Stocks on TipRanks >>

Read More on MDB:

Tags: , ,