MongoDB (MDB) Stock Price: $500 Target And Outperform Rating

By Amit Chowdhry ● Jun 9, 2022
  • The shares of MongoDB Inc (NASDAQ: MDB) have received a $500 price target from Credit Suisse. These are the details.

The shares of MongoDB Inc (NASDAQ: MDB) have received a $500 price target from Credit Suisse. And Credit Suisse analyst Phil Winslow is maintaining an “Outperform” rating on the shares.

Winslow adjusted the rating while noting that MongoDB delivered strong first-quarter results. But the company management highlighted the slower-than-normal expansion of existing customers in the self-serve and mid-market channels (especially in Europe) and provided guidance to imply that this slowness will spread to impact all geographies and channels. 

And as a result of the current macro environment, the guidance includes between $4 million and $5 million in revenue headwinds in the second quarter and between $30 million and $35 million next year. But the early May data is signaling a potential stabilization.

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