MongoDB price target raised to $435 from $375 at Citizens JMP

Citizens JMP analyst Patrick Walravens raised the firm’s price target on MongoDB (MDB) to $435 from $375 and keeps an Outperform rating on the shares. The company announced the appointment of Chirantan “CJ” Desai as President and CEO, beginning November 10, as well as reporting that the company exceeded the high end of its guidance for Q3 on Monday morning, the analyst tells investors in a research note. The firm continues to like this stock for long-term capital appreciation for a number of reasons as MongoDB undergoes this leadership transition.