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.
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