MongoDB price target lowered to $300 from $400 at Truist

Truist analyst Miller Jump lowered the firm’s price target on MongoDB (MDB) to $300 from $400 but keeps a Buy rating on the shares. The company’s Q4 earnings produced results with upside to the firm’s expectations, but the management also reset the bar lower on guidance for the year ahead with an outlook that underwhelmed Street expectations, the analyst tells investors in a research note. The guidance for the year ahead could prove conservative however as the management commentary on the call made it clear that they plan to continue investing to capture the AI opportunity that they see in the market, the firm adds.