Piper Sandler raised the firm’s price target on MongoDB (MDB) to $275 from $200 and keeps an Overweight rating on the shares. The firm is encouraged to see Atlas growth show early signs of a stabilization with the Q1 2026 growth rate accelerating to 26% at $1.5B-plus ARR scale. The addition of a veteran technology CFO Mike Berry alongside a $1B buy-back authorization should help calm jittery investor nerves, says Piper. Even though the controversy is far from over, the 40%-plus sell-off from the December 2024 highs of $350 appears overdone, the firm adds.
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Read More on MDB:
- Citi sees rally in MongoDB after company ‘delivered in Q1’
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