- The shares of MongoDB Inc (NASDAQ: MDB) have received a $556 price target from Barclays. These are the details.
The shares of MongoDB Inc (NASDAQ: MDB) have received a $556 price target from Barclays. And Barclays analyst Raimo Lenschow reduced the price target on MongoDB from $590 while maintaining an “Overweight” rating on the shares.
Lenschow pointed out that the main question for software investors this year is not around end-demand as there are no issues there. However, the correct valuation level for the space is the main question.
Lenschow questions whether we are going back to the long-term average or whether software should bounce back to the more recent highs due to the exciting structural growth profile. For now, Lenschow is more in the long-term average camp.
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