MongoDB price target lowered to $300 from $480 at Oppenheimer

Oppenheimer analyst Ittai Kidron lowered the firm’s price target on MongoDB to $300 from $480 and keeps an Outperform rating on the shares. MongoDB delivered a mixed Q1, beating consensus estimates but guiding below the Street for Q2 and FY25 revenue, the analyst tells investors in a research note. Oppenheimer expects continued near-term volatility until macro conditions/consumption stabilize and execution recovers, although believes the long-term opportunity around GenAI, Stream Processing, and relational displacements remains intact.