MongoDB price target raised to $420 from $365 at Truist

Truist analyst Miller Jump raised the firm’s price target on MongoDB to $420 from $365 and keeps a Buy rating on the shares after attending its User Conference and Investor Day. The event was packed full of product announcements that make the firm incrementally optimistic on the company’s long term prospects, the analyst tells investors in a research note, with Atlas Stream Processing and Vector Search named as two areas that will expand the monetizable opportunity for MongoDB over the mid-term, the analyst tells investors in a research note.