Morgan Stanley raised the firm’s price target on MongoDB (MDB) to $350 from $340 and keeps an Overweight rating on the shares after the company delivered its “strongest beat of the year,” with revenue coming in 6% ahead of consensus, resulting in 22% growth in Q3 versus 13% in Q2. Multi-year deals helped Q3 and will weigh on Q4, but the firm thinks new workload contribution and some benefits from a multiyear product cycle will “reassert” 20%-plus growth in FY26, the analyst tells investors.
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