MongoDB (MDB) PT Lowered to $325 at Canaccord Genuity
Canaccord Genuity analyst David Hynes lowered the price target on MongoDB (NASDAQ: MDB) to $325.00 (from $435.00) while maintaining a Buy rating.
The analyst commented: "Bigger picture, our view is that MDB is placed early in the AI value chain and should be one of the first to benefit as the space matures and value capture shifts from chipmakers towards applications. This is similar to how Cisco's early dominance in the dot.com era eventually gave way to a Cambrian explosion of new software businesses. MDB is already helping customers build AI-enabled applications. When you can get a pullback of this size on a generational asset, you take it. That's what we believe MDB to be. Reiterate BUY. Price target to $325 (from $435), based on a target multiple of ~12X EV/R on 2025E."