MongoDB price target raised to $245 from $215 at JMP Securities

JMP Securities raised the firm’s price target on MongoDB to $245 from $215 and keeps an Outperform rating on the shares. The company delivered better than expected Q4 results, and while guidance was mixed, the firm continues to like MongoDB for long-term capital appreciation, as it targets a large TAM estimated at $85B in 2022 with a superior operational database product and is well led by President and CEO Dev Ittycheria and COO and CFO Michael Gordon, the analyst tells investors in a research note.