MongoDB price target raised to $230 from $160 at Scotiabank

Scotiabank analyst Patrick Colville raised the firm’s price target on MongoDB (MDB) to $230 from $160 and keeps a Sector Perform rating on the shares. The company is “undoubtedly a hall of fame” cloud company with many positive attributes, but the firm maintains its rating on the stock until it can get more comfort from its CIO checks around competition, timing of AI benefits to its database, and traction in the vector search, the analyst tells investors.