MongoDB (MDB) PT Raised to $240 at UBS
UBS analyst Karl Keirstead raised the price target on MongoDB (NASDAQ: MDB) to $240.00 (from $213.00) while maintaining a Neutral rating.
The analyst commented, "MongoDB posted revs growth that was just marginally above our model, as the full year revs guide was inched-up by just $10m and remains at a depressed level of 14% and 1Q/Apr total revs of $549m (+22%) and the guide for 2Q/Jul revs of $553m ($575m with a “normal" 4% beat) were just a bit above our estimates. That said, investor expectations may have been even lower and the margin pivot is a welcome shift. At a CY26E revs multiple of 6.0x, we don’t see material downside risk, but we worry enough about the secular trends that we remain Neutral-rated."