MongoDB price target raised to $445 from $400 at RBC Capital

RBC Capital analyst Rishi Jaluria raised the firm’s price target on MongoDB to $445 from $400 and keeps an Outperform rating on the shares. The analyst attended the MongoDB.local NYC and investors session, noting that the firm’s takeaway about the company’s opportunity to become a developer data platform by consolidating more workloads was “positive”. RBC further cites MongoDB’s strong positioning to be a long-term beneficiary of the Generative AI platform shift.