Scotiabank lowered the firm’s price target on MongoDB to $385 from $400 and keeps a Sector Perform rating on the shares. The company reported a Q4 beat, but provided a modest guidance for FY25, the analyst tells investors. While the company is a leader in the NoSQL, or not only SQL, database market with a compelling runway for long-term growth and investors have been pointing to the company as a near term AI beneficiary, the firm believes these tailwinds will take longer to play out.
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