MongoDB price target raised to $345 from $290 at Barclays

Barclays analyst Raimo Lenschow raised the firm’s price target on MongoDB (MDB) to $345 from $290 and keeps an Overweight rating on the shares as part of an earnings preview note for the off-cycle software names. The recent rally in software “complicates the set-up for this quarter,” the analyst tells investors in a research note. The firm says that while “things are a little better” for software, is struggles with the notion that it will be enough to move stocks further post their recent run.