UBS Bumps Up MongoDB Price Target By 30%
UBS analyst Karl Keirstead upgraded MongoDB Inc (NASDAQ: MDB) to Buy from Neutral with a price target of $450, up from $345 (20.8% upside).
Channel checks suggested MongoDB benefits directly from the mega-trend to build new applications using a micro-services architecture, solidifying his view that MongoDB is a "play on the apps modernization mega-trend."
The shares do not fully reflect increased usage of MongoDB databases for complex use cases requiring transactional consistency and possible widening of feature advantages relative to rivals.
Analysts hailed MongoDB's recent Q4 beat by setting substantial upsides to the stock.
Recently, MongoDB extended collaboration with Amazon.com Inc (NASDAQ: AMZN) Amazon Web Services.
Price Action: MDB shares traded higher by 1.04% at $376.30 in the premarket on the last check Friday.
Latest Ratings for MDB
Mar 2022 | Needham | Maintains | Buy | |
Mar 2022 | Mizuho | Maintains | Neutral | |
Mar 2022 | Barclays | Maintains | Overweight |
View More Analyst Ratings for MDB
View the Latest Analyst Ratings
See more from Benzinga
Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.