Citi raised the firm’s price target on MongoDB (MDB) to $430 from $400 and keeps a Buy rating on the shares. The firm also added the shares to its U.S. Focus List. The company’s Q3 saw the largest beat of the year with an acceleration in growth, and there is an “opportunistic buying opportunity” after the shares saw a 30% cumulative reversal from after-market highs, the analyst tells investors in a research note. Citi likes MongoDB’s “positive fundamentals, attractive relative valuation and growth profile into 2025 with accelerating growth potential” on mechanical factors and go-to-market potential.
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Read More on MDB:
- Adobe downgraded, Charter upgraded: Wall Street’s top analyst calls
- MongoDB price target raised to $360 from $336 at Argus
- MongoDB initiated with a Neutral at Macquarie
- Unusually active option classes on open December 11th
- MongoDB price target raised to $385 from $325 at Canaccord
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
