Canaccord raised the firm’s price target on MongoDB (MDB) to $375 from $340 and keeps a Buy rating on the shares. The firm said their thesis is that the company will capture the AI application cycle by embedding retrieval directly into the operational data plane while preserving the performance, security, and multi-cloud options large corporations require.Atlas will be the key driver and accounts for roughly 74-75% of the mix while non-Atlas remains a stable base that extends run-anywhere reach.
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>>
Read More on MDB:
- MongoDB price target raised to $380 from $345 at BofA
- MongoDB price target raised to $320 from $280 at Scotiabank
- MongoDB Positioned for Long-Term Growth with Strategic Market Opportunities and Innovative AI Solutions
- MongoDB price target raised to $375 from $345 at Citizens JMP
- MongoDB’s Strategic Focus on Sustainable Growth and AI Opportunities