On June 10, MongoDB rose 5.15% in regular trading, trading at $356.65/share, with trading volume of $70.55 million. The rebound comes after Bank of America Securities raised its target price on MongoDB from $390 to $450, maintaining a buy rating.
The upgrade extends a wave of post-earnings institutional consensus strengthening. Previously, Tigress Financial significantly raised its target to $515, Citi lifted its target to $450, and Morgan Stanley raised to $380. MongoDB's Q1 earnings beat expectations across all metrics with upwardly revised full-year guidance, while Atlas cloud database revenue grew 29% year-over-year, with AI-native customer traction continuing to accelerate.
The stock had retreated from post-earnings highs amid sector-wide selling pressure and insider sales by directors Roelof Botha (44,050 shares) and Dev Ittycheria (planned 40,000 shares). Today's analyst action appears to have provided a catalyst for recovery from recent profit-taking.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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