KeyBanc lowered the firm’s price target on MongoDB to $490 from $543 and keeps an Overweight rating on the shares. While MongoDB reported a solid beat with its Q4 results, guidance for fiscal 2025 was lower than expected mostly due to non-repeating items, the analyst tells investors in a research note. The firm continues to see MongoDB as the leading NoSQL vendor in the $106B database market and a potential strong direct beneficiary of Gen AI in the medium term with its vector search offering.
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