MongoDB price target raised to $320 from $275 at Mizuho

Mizuho raised the firm’s price target on MongoDB (MDB) to $320 from $275 and keeps a Neutral rating on the shares. The company reported “robust” Q3 results and raised its fiscal 2025 revenue growth guidance, the analyst tells investors in a research note. The firm says MongoDB is strategically shifting its focus toward enterprise customers while reducing emphasis on the mid-market segment and is allocating sales and engineering resources accordingly. While Mizuho believes MongoDB’s artificial intelligence opportunity is unlikely to drive revenue in the near-term, it points out that management stressed the company is well positioned to see AI-driven growth over a longer-term perspective.