MongoDB price target lowered to $330 from $400 at Barclays

Barclays analyst Raimo Lenschow lowered the firm’s price target on MongoDB (MDB) to $330 from $400 and keeps an Overweight rating on the shares as part of a 2025 outlook for software. The firm sees 2025 as a better year for IT spending. This means software can be a relative outperformer as estimates inflect higher during the year and with valuation levels only in-line with historical levels, the analyst tells investors in a research note.