Bernstein raised the firm’s price target on MongoDB to $471 from $424 and keeps an Outperform rating on the shares post the Q2 report. The company delivered another solid quarter with a strong revenue beat, and management raised full-year guidance across the board, the analyst tells investors in a research note. The firm thinks Atlas cloud growth should stabilize from next quarter onwards on easier comps, which it says is not reflected in the guidance.
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