MongoDB price target raised to $420 from $375 at Stifel

Stifel analyst Brad Reback raised the firm’s price target on MongoDB to $420 from $375 and keeps a Buy rating on the shares following the company’s investor day. MongoDB announced several new offerings during its investor day, which were well received by customers and partners at the event, the analyst tells investors. With the current pace of new product releases increasing, Mongo “continues to solidify” its leadership position in its market.