MongoDB price target raised to $240 from $220 at Mizuho

Mizuho analyst Matthew Broome raised the firm’s price target on MongoDB to $240 from $220 and keeps a Neutral rating on the shares. During yesterday’s customer conference in New York City, management unexpectedly announced a new stream processing offering, the analyst tells investors in a research note. The analyst views this as an “intriguing new opportunity” for MongoDB, but says “it is clearly very early” and remains to be seen whether the company can meaningfully broaden its value proposition beyond databases.