Scotiabank upgrades MongoDB to Outperform on post-earnings selloff

Scotiabank analyst Patrick Colville upgraded MongoDB (MDB) to Outperform from Sector Perform with a price target of $310, up from $275. The shares at the “current reset level create an attractive buying opportunity,” the analyst tells investors in a research note. The firm believes much of the “crowding” in the stock seems “washed out” following the earnings report, the analyst tells investors in a research note. Scotiabank believes an upside case for MongoDB’s revenue is over 23% in fiscal 2027 even on tough compares.