MongoDB price target lowered to $305 from $400 at Credit Suisse

Credit Suisse analyst Phil Winslow lowered the firm’s price target on MongoDB to $305 from $400 and keeps an Outperform rating on the shares after the company delivered strong Q3 results. The analyst notes that MongoDB’s comments regarding strong new business and no noticeable change in sales cycles further reassured him in the underlying, long-term trends driving the company’s business.