Redburn-Atlantic Upgrades MongoDB (MDB) to Neutral

Redburn-Atlantic analyst Alex Haissl upgraded MongoDB (NASDAQ: MDB) from Sell to Neutral with a price target of $170.00 (from $180.00).

The analyst comments: "We are upgrading MongoDB from Sell to Neutral ($170 new target price from $180) as we see no further downside. The valuation multiple is trading near all-time lows, and earnings expectations have already been reset. While macro-related earnings risks remain, they are not company-specific. Our structural concerns about MongoDB's weakening competitive position persist, but are now largely priced in, following a 25% relative underperformance since March 2024."

For an analyst ratings summary and ratings history on MongoDB click here. For more ratings news on MongoDB click here.

Shares of MongoDB closed at $160.04 yesterday.

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