MongoDB Several Price-Target Hikes

Good morning, I thought this could be useful since many must be wondering about MDB after earnings.…

MongoDB’s (MDB - Get Report) shares dropped a day after its second-quarter results impressed several major investment firms enough to raise their price targets.

Stifel Nicolaus raised its price target on the stock to $185 a share from $180 and maintained its buy rating. Morgan Stanley raised its price target to $160 from $156 and maintained its equal-weight rating.

Citigroup raised its target to $195 a share from $184 and maintained its buy rating. Needham also maintained its buy rating and raised its price target to $187 from $184.

On Sept. 4 the New York documents-storage platform raised its revenue forecast for the full year.

The data company sees full-year revenue of $390 million to $395 million, vs. the previous estimate of $375 million to $381 million. That is 2.8% higher than the consensus estimate $381.9 million, according to Bloomberg.

The company forecast a full-year adjusted loss between $1.06 and $1.11 a share. It previously saw a loss between $1.04 and $1.11 a share.

MongoDB reported a second-quarter loss per share of 67 cents and expects a third-quarter adjusted loss between 27 cents and 29 cents per share. The consensus is a loss per share of 28 cents, according to Bloomberg.

The stock has nine buy ratings, six holds and one sell with a consensus of $170 a share, based on analysts polled by Bloomberg.