Analysts raised MongoDB stock price targets after the company reported stronger-than-expected results, with brokerage notes pushing up targets and keeping bullish ratings.
StockAnalysis said, “Goldman Sachs analyst Matthew Martino raised the firm’s price target on MongoDB (MDB) to $520 from $453 and keeps a Buy rating on the shares.”
CNN Markets reported that a “price target [was] raised to $480 from $400 at Canaccord.”
MarketWatch ran the headline “MongoDB shares tumble despite strong earnings on disappointing news for investors,” noting that analysts nonetheless lifted targets for the company.
Tickeron reported that “MongoDB (MDB) shares fell about 23.3% over the last 30 days,” providing context for volatility around the stock after earnings.
Investors have reacted to the earnings print and follow-up notes differently: some brokerages raised their targets while the share price has shown sharp swings in recent sessions, according to the cited coverage.
For background on leadership and investor interest in the company, see recent coverage of MongoDB’s management change and renewed investor attention.
Analysts’ reactions, the revised targets and the stock’s short-term volatility are the clearest takeaways from the coverage sources below.
Sources
- StockAnalysis — reported “Goldman Sachs analyst Matthew Martino raised the firm’s price target on MongoDB (MDB) to $520 from $453 and keeps a Buy rating on the shares.”
- CNN — reported a “price target raised to $480 from $400 at Canaccord.”
- MarketWatch — ran the headline “MongoDB shares tumble despite strong earnings on disappointing news for investors.”
- Tickeron — reported “MongoDB (MDB) shares fell about 23.3% over the last 30 days.”
