UPDATE: Baird Starts MongoDB (MDB) at Outperform

July 12, 2022 4:12 PM EDT
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Price: $199.20 -1.42%

Rating Summary:
    21 Buy, 8 Hold, 2 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 8
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(Updated - July 12, 2022 4:31 PM EDT)

Baird analyst William Power initiates coverage on MongoDB (NASDAQ: MDB) with a Outperform rating and a price target of $360.00.

The analyst comments "MongoDB has established itself as the clear next-generation (NoSQL) general purpose database leader with $1 billion+ of annualized revenue, and its core Atlas (database-as-a-service) product growing 85% in FQ1. Ease of use, scalability and its developer-first model are all key differentiators. With a large TAM and leading market position, we believe the growing platform capabilities position it for strong growth for many years. We acknowledge valuation questions and potential recession risks, but recommend the stock for long-term growth investors, though more aggressive on pullbacks."

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 $310.86 yesterday.

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Robert W Baird