RBC Capital analyst Rishi Jaluria lowered the firm’s price target on MongoDB (MDB) to $395 from $500 but keeps an Outperform rating on the shares. The company reported solid Q4 results with revenue beating consensus by about 3.7%, and the firm remains encouraged by continued traction with AI-native customers, expanding net retention rate of 121% and solid non-Atlas growth – the best growth quarter in about 2 years, the analyst tells investors in a research note. RBC adds that MongoDB’s softer FY27 guide is “conservative”.
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