MongoDB price target raised to $280 from $230 at Scotiabank

Scotiabank raised the firm’s price target on MongoDB (MDB) to $280 from $230 and keeps a Sector Perform rating on the shares. The company delivered a “standout” Q2 report, with the company increasing its FY26 revenue guidance and strength expected to carry through the year, the analyst tells investors. The company maintains its rating on the stock given concerns around competition with PostgreSQL in database, the timing of the AI benefit, and the traction in vector search.