MongoDB price target raised to $220 from $170 at Mizuho

Mizuho analyst Matthew Broome raised the firm’s price target on MongoDB to $220 from $170 and keeps a Neutral rating on the shares. The analyst’s fundamental enterprise software checks for the January period were generally solid, even as most of its contacts are expecting a meaningfully weaker Q1 and Q2. In addition, management teams across software have started aggressively cutting costs and moderating hiring, which is prudent given lower growth projections, the analyst tells investors in a research note. The firm continues to find the overall risk/reward "quite attractive," and believes investors should be rewarded over the medium-term, if not sooner.