DA Davidson analyst Rudy Kessinger raised the firm’s price target on MongoDB (MDB) to $325 from $275 and keeps a Buy rating on the shares. The company reported a strong Q2 beat underpinned by stronger than expected consumption growth, with Atlas growth accelerating to 29% from 26% in Q1, the analyst tells investors in a research note. The rebound in consumption seen in May persisted throughout the quarter, while the new workloads acquired from large customers last year are showing sustained growth for longer than typical, the firm added.
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