- The shares of MongoDB Inc (NASDAQ: MDB) have received a $450 price target from UBS. These are the details.
The shares of MongoDB Inc (NASDAQ: MDB) have received a $450 price target from UBS. And UBS analyst Karl Keirstead upgraded MongoDB to a “Buy” rating from a “Neutral” while increasing the price target from $345.
Keirstead noted that the shares do not fully reflect 2 key emerging positives:
1.) MongoDB databases are increasingly being used for complex use cases requiring transactional consistency
2.) The company’s feature advantages relative to rivals may be widening
And following channel checks, Keirstead believes MongoDB is benefiting directly from the mega-trend to build new applications using a micro-services architecture. Plus this solidifies Keirstead’s view that the company is a play on the apps modernization mega-trend.
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