MongoDB price target lowered to $475 from $500 at Truist

Truist lowered the firm’s price target on MongoDB to $475 from $500 but keeps a Buy rating on the shares. The company’s Q4 results exceeded expectations, driven by broad strength in their DBaaS and self-managed businesses, but the guidance that they issued for the year ahead implies a significant deceleration at the topline and retrenchment of their margin gains, the analyst tells investors in a research note. Truist adds however that the management commentary revealed multiple puts and takes in the calculation, suggesting that their outlook may “ultimately prove conservative”.