MongoDB price target raised to $375 from $345 at Citizens JMP

Citizens JMP raised the firm’s price target on MongoDB (MDB) to $375 from $345 and keeps an Outperform rating on the shares. At its investor day, MongoDB provided 3-5 year long-term financial targets with revenue growth in the “high teens” including 20%+ Atlas growth, operating margins of 20%+, and free cash flow conversion of 80%+, the analyst tells investors in a research note. Citizens continues to like the stock as an opportunity for long-term capital appreciation.