Growth investors should buy MongoDB ‘aggressively,’ says Piper Sandler

Piper Sandler recommends growth investors with a time horizon greater than three months "aggressively" build positions in MongoDB on the post-earnings pullback. The company’s "tepid" fiscal 2024 growth guidance overshadowed a strong Q4, the analyst tells investors in a research note. The firm views the reset 2024 model and guidance as "derisked" and keeps an Overweight rating on the shares with a $270 price target.