BofA analyst Brad Sills raised the firm’s price target on MongoDB (MDB) to $345 from $275 and keeps a Buy rating on the shares following what the firm calls “breakout” Q2 results driven by “a confluence of several key growth initiatives.” The firm sees a healthy runway for growth with MongoDB having a number of key growth initiatives working and a “best of breed position in a large addressable market for unstructured database,” the analyst added.
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