Oppenheimer raised the firm’s price target on MongoDB (MDB) to $385 from $325 and keeps an Outperform rating on the shares. The firm comes away from MongoDB’s Investor Day positive on its strategic direction and in its ability to gain share as it leans into product-led growth and platform strengths. Ramping self-serve efforts bodes well for growing MongoDB’s Atlas contribution and pipeline generation, while upmarket efforts position it to be a more strategic customer partner, Oppenheimer adds.
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