Canaccord raised the firm’s price target on MongoDB (MDB) to $340 from $320 and keeps a Buy rating on the shares. The firm continues to believe thae company remains a structurally advantaged asset in the shift toward AI-enabled application development. Strength in developer mindshare, momentum upmarket, and a broadening platform surface, particularly around vector search and real-time AI workload suppor, position MongoDB well to capture an increasing share of data-layer modernization efforts.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MDB:
- MongoDB’s (MDB) Blowout Q2 Earnings Reset Wall Street Expectations
- MongoDB Stock (MDB) Jumps as Top Analysts Cheer Robust Q2 Earnings
- MongoDB reports Q2 beat, Sompo to acquire Aspen Insurance: Morning Buzz
- MongoDB rises 34.5%
- MongoDB’s Strong Financial Performance and Strategic Growth Drive Buy Rating