MongoDB price target raised to $440 from $380 at BofA

BofA raised the firm’s price target on MongoDB (MDB) to $440 from $380 and keeps a Buy rating on the shares after the company announced the appointment of CJ Desai as its new CEO. The appointment comes at “an opportune time” as MongoDB positions itself to be the database of choice for AI workloads and signals an intent to accelerate the company’s next phase of scale and enterprise growth, the analyst tells investors.