MongoDB price target lowered to $365 from $575 at Tigress Financial

Tigress Financial analyst Ivan Feinseth lowered the firm’s price target on MongoDB to $365 from $575 and keeps a Buy rating on the shares. The analyst re-rated the stock’s valuation but believes MongoDB remains well positioned to benefit from "much-needed increases in enterprise IT spending as companies continue to leverage its highly customizable and scalable" database as a service.