Truist lowered the firm’s price target on MongoDB to $475 from $500 but keeps a Buy rating on the shares. The company’s Q4 results exceeded expectations, driven by broad strength in their DBaaS and self-managed businesses, but the guidance that they issued for the year ahead implies a significant deceleration at the topline and retrenchment of their margin gains, the analyst tells investors in a research note. Truist adds however that the management commentary revealed multiple puts and takes in the calculation, suggesting that their outlook may “ultimately prove conservative”.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on MDB:
- MDB Earnings: MongoDB Stock Slips on Soft Guidance
- MongoDB, Inc. Announces Fourth Quarter and Full Year Fiscal 2024 Financial Results
- Options Volatility and Implied Earnings Moves Today, March 07, 2024
- MongoDB price target raised to $550 from $515 at Citi
- Couchbase price target raised to $34 from $26 at Wells Fargo