Wells Fargo lowered the firm’s price target on MongoDB to $450 from $500 and keeps an Overweight rating on the shares. MongoDB provided weaker-than-expected guidance for FY25, but while there are some unforeseen revenue headwinds that impacted the guidance, Wells believes MongoDB is still the best way to play Gen AI and remains a buyer on the pullback, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on MDB:
- MDB Earnings: MongoDB Stock Slips on Soft Guidance
- MongoDB, Inc. Announces Fourth Quarter and Full Year Fiscal 2024 Financial Results
- Options Volatility and Implied Earnings Moves Today, March 07, 2024
- MongoDB price target raised to $550 from $515 at Citi
- Couchbase price target raised to $34 from $26 at Wells Fargo