Analyst Tyler Radke of Citi maintained a Buy rating on MongoDB, retaining the price target of $425.00.
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Tyler Radke has given his Buy rating due to a combination of factors, including the strategic leadership change at MongoDB with the appointment of CJ Desai as the new CEO. Desai’s previous success at Cloudflare and his ability to drive innovation and scale at a large enterprise level are seen as positive indicators for MongoDB’s future growth.
Additionally, MongoDB’s strong positioning in the AI sector and its consistent track record of exceeding guidance contribute to the positive outlook. Despite the surprise timing of the CEO transition, Radke views Desai as a strong successor who can leverage his enterprise experience to help MongoDB achieve its ambitious revenue goals. The expected share price return of 15.2% further supports the Buy rating.
In another report released today, Citizens JMP also maintained a Buy rating on the stock with a $435.00 price target.