MongoDB price target lowered to $435 from $475 at Stifel

Stifel analyst Brad Reback lowered the firm’s price target on MongoDB to $435 from $475 and keeps a Buy rating on the shares. MongoDB “posted a typical upside quarter,” but the stock traded-off by about 10% in after-hours as the FY25 guidance missed consensus. However, the firm notes that Mongo beat initial guidance on a reported dollar basis by about 11% over the prior two years and says that assuming a similar beat cadence FY25 revenue growth would be about 27%, which would be above the consensus forecast for 23% growth.