Stifel raised the firm’s price target on MongoDB (MDB) to $475 from $450 and keeps a Buy rating on the shares. While MongoDB “posted a typical upside quarter,” the stock traded-off modestly after-hours, as Atlas results likely fell short of the buyside’s elevated estimates after Snowflake (SNOW) and Elastic’s (ESTC) consumption commentary last week, the analyst tells investors. Going forward, Mongo should sustain 25% revenue growth and 30%-plus Atlas growth while continuing to invest for the long-term, the analyst added.
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