MongoDB price target raised to $350 from $320 at RBC Capital

RBC Capital analyst Rishi Jaluria raised the firm’s price target on MongoDB (MDB) to $350 from $320 and keeps an Outperform rating on the shares. The company posted strong Q2 results with accelerating Atlas growth, better-than-expected operating leverage, and upside to revenue, EPS, and free cash flow, sending shares up 30% after-hours, the analyst tells investors in a research note. While Al workloads remain early, MongoDB is benefiting from larger, durable use cases and continued expansion across the customer base, RBC adds, noting that the firm sees the beat-and-raise quarter as a positive signal for execution.