MongoDB price target lowered to $240 from $256 at Stifel

Stifel analyst Brad Reback lowered the firm’s price target on MongoDB to $240 from $256 and keeps a Buy rating on the shares ahead of the company’s Q4 report scheduled for Wednesday, March 8. History shows that Atlas has grown at about 2.2 times the rate of AWS, which points to low-30% Q1 Atlas growth, said the firm, which sees Q1 guidance likely to come in the high 20% range, which would be below sell-side estimates of about 33%.