Morgan Stanley lowered the firm’s price target on MongoDB (MDB) to $235 from $255 and keeps an Overweight rating on the shares. MongoDB delivered a strong start to the year as fundamentals proved stronger than investor sentiment, with Atlas accelerating to 26% year over year and record customer adds, the analyst tells investors in a research note. The firm sees management taking a potentially more prudent approach to non-Atlas guidance, which sets the stage for continued estimate revisions on the top and bottom-line.
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