MongoDB price target lowered to $500 from $555 at BofA

BofA analyst Brad Sills lowered the firm’s price target on MongoDB to $500 from $555 and keeps a Buy rating on the shares. MongoDB reported “solid” Q4 results, though the outlook was impacted by some one-time tough comparisons, the analyst tells investors. The “solid growth trajectory is largely unchanged” and the firm sees potential for upside from new products, early adoption of AI-related workloads and an improving consumption backdrop, but BofA lowered its price target to account for the lower outlook.