MongoDB price target raised to $430 from $420 at Truist

Truist analyst Miller Jump raised the firm’s price target on MongoDB to $430 from $420 and keeps a Buy rating on the shares after its Q2 earnings beat. The quarter’s upside was driven by large deals in their Enterprise Advanced and Atlas products, and the company is continuing to take a larger share of enterprise data workloads, the analyst tells investors in a research note. Despite the strong performance and guide up, revenue estimates could prove conservative if the demand environment remains stable, the firm added.