Guggenheim raised the firm’s price target on MongoDB to $250 from $220 and keeps a Sell rating on the shares due to increased out-year forecasts after MongoDB “put on a clinic” with its fiscal Q2 results. Fiscal Q3 revenue guidance is “completely de-risked” as it implies zero new ARR for both Atlas and EA, while the full-year “also seems de-risked,” says the analyst, who adds: “We take our hats off to the management team.”
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on MDB:
- MongoDB price target raised to $260 from $240 at Mizuho
- MongoDB price target raised to $440 from $425 at JMP Securities
- MongoDB price target raised to $450 from $421 at Barclays
- MongoDB (NASDAQ:MDB) Jumps after Shattering Estimates
- MongoDB jumps 8% to $414.11 after Q2 beats estimates, FY24 guidance raised