Piper Sandler raised the firm’s price target on MongoDB (MDB) to $490 from $400 and keeps an Overweight rating on the shares. The firm says that strong execution and healthy demand drove another noteworthy quarter for the company. Piper is encouraged by accelerating Atlas growth on broad-based demand and recent high-caliber leadership additions, both of which reinforce its confidence in MongoDB as a modern database platform of choice and AI infrastructure beneficiary as well as in the growth and margin trajectory ahead.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on MDB: