MongoDB price target raised to $450 from $420 at Stifel

Stifel raised the firm’s price target on MongoDB to $450 from $420 and keeps a Buy rating on the shares. The company experienced “better than expected usage growth” and company performance was further bolstered by healthy EA performance and license revenue outperformance, the analyst tells investors. Stabilization appears to have arrived earlier than expected and Stifel believes this positions Atlas to re-accelerate year-over-year growth in the upcoming quarters.