MongoDB price target raised to $260 from $240 at Mizuho

Mizuho analyst Matthew Broome raised the firm’s price target on MongoDB to $260 from $240 and keeps a Neutral rating on the shares. The company reported “generally positive” fiscal Q2 results, with more revenue upside than expected, the analyst tells investors in a research note. However, generative artificial intelligence is unlikely to provide a meaningful near-term catalyst and the longer-term benefits remain difficult to quantify, says the firm. It believes MongoDB’s operating environment remains challenging.