DA Davidson lowered the firm’s price target on MongoDB (MDB) to $385 from $465 and keeps a Buy rating on the shares ahead of its expected “strong” Q4 results next week. For the first time in a few years, the firm believes that the company will provide initial annual guidance that is in-line to slightly ahead of consensus, the analyst tells investors in a research note. The firm adds however that its price target cut reflects lower peer multiples.
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