BofA raised the firm’s price target on MongoDB (MDB) to $380 from $345 and keeps a Buy rating on the shares. After having attended MongoDB’s analyst day in New York, the firm came away “encouraged” by the focus on landing larger, more strategic accounts as the company scales revenue, says the analyst, who adds that top line three-to-five year financial targets were largely in line with expectations. The firm is raising its price target on improving visibility for growth and rolling its multiple forward.
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