Truist raised the firm’s price target on MongoDB (MDB) to $450 from $400 and keeps a Buy rating on the shares. The company delivered strong upside vs. Truist estimates on both the top and bottom lines, while the management highlighted its core workload momentum driven by large enterprise adoption, the analyst tells investors in a research note. MongoDB also increased guidance for the year calls for improved Atlas growth vs. their prior expectation as well as stronger non-Atlas business on the back of multi-year deal traction, the firm added.
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