Scotiabank lowered the firm’s price target on MongoDB (MDB) to $240 from $275 and keeps a Sector Perform rating on the shares. The firm maintains its rating on the stock after a beat in Q4, but a disappointing year ahead guidance, the analyst tells investors. The firm recommends investors to take a wait and see approach until it can get more comfort from its checks about the timing of any AI benefits as well as competition in the database.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MDB:
- Robinhood initiated, MongoDB downgraded: Wall Street’s top analyst calls
- MongoDB price target lowered to $270 from $415 at Needham
- Morning Movers: Burlington jumps and Macy’s falls as retailers report earnings
- Top Analyst Downgrades MongoDB (MDB) Stock on Disappointing Guidance
- MongoDB price target lowered to $320 from $400 at RBC Capital