DA Davidson raised the firm’s price target on MongoDB (MDB) to $415 from $365 and keeps a Buy rating on the shares. The firm cites the company’s announcement of CEO transition to Chirantan “CJ” Desai who brings over 25 years of technology leadership experience, most recently serving as President of Product & Engineering at Cloudflare and as President & COO at ServiceNow where he oversaw growth from $1.5B to $10B in ARR, as well as its forecast of Q3 topping the high end of prior estimates, the analyst tells investors in a research note.
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