MongoDB price target raised to $300 from $295 at Citi

Citi analyst Tyler Radke raised the firm’s price target on MongoDB to $300 from $295 and keeps a Buy rating on the shares. Against a "steady drumbeat" of weaker cloud consumption data points, MongoDB "delivered one of the strongest revenue beats (and raises) in recent memory," Radke tells investors in a research note. The analyst says the quarter should increasingly de-risk the company’s Q4 and initial fiscal 2023 guidance setup.