MongoDB price target lowered to $250 from $270 at Canaccord

Canaccord analyst Kingsley Crane lowered the firm’s price target on MongoDB to $250 from $270 and keeps a Buy rating on the shares. The analyst said they reported a top- and bottom-line beat with strong net ew customer wins was balanced by commentary around slowing Atlas consumption trends exiting Q4 as usage expansion within the existing workloads is below historical levels and guidance expects this to persist through 2024.