MongoDB Stock (MDB): $626 Price Target From Needham

By Amit Chowdhry ● Dec 11, 2021
  • The shares of MongoDB Inc (NASDAQ: MDB) have received a price target of $626. These are the details.

The shares of MongoDB Inc (NASDAQ: MDB) have received a price target of $626. And Needham analyst Jack Andrews increased the company’s price target from $534 while maintaining a “Buy” rating on the shares. 

Andrews noted that the company reported a major third-quarter beat with accelerating revenue growth at scale as the consumption of its Atlas business explodes. And Andrews adds that MongoDB’s Enterprise Advanced also experienced a notable acceleration in growth as customers appear to be increasing their broad adoption of the product due to its data platform capabilities that are driving higher growth among over $100,000 customers.

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