BMO Capital analyst Keith Bachman raised the firm’s price target on MongoDB (MDB) to $360 from $285 and keeps an Outperform rating on the shares. In analyzing the competitive state of the database market with a focus on AI, the firm believes that MongoDB and Postgres tend to win in different use cases, and both can be successful at acquiring AI workloads, the analyst tells investors in a research note. MongoDB is well-positioned in the database market and has durable growth potential, the firm added.
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