MongoDB price target raised to $421 from $374 at Barclays

Barclays raised the firm’s price target on MongoDB to $421 from $374 and keeps an Overweight rating on the shares. The analyst is are “excited” by the progress MongoDB is making on Atlas and the tailwinds for growth ahead. The company’s customer conference and analyst day came with meaningful announcements for new workload types and architecture support, which sets the company up well going forward, the analyst tells investors in a research note.