Macquarie analyst Frederick Havemeyer lowered the firm’s price target on MongoDB to $455 from $490 and keeps an Outperform rating on the shares. The company exited fiscal 2024 “with strength,” posting a strong Q4 beat with robust free cash flow generation, and guided constructively for fiscal 2025, the analyst tells investors in a research note. The firm views the spot-earnings selloff as an entry point for its top generative artificial intelligence database pick.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
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
