KeyBanc analyst Eric Heath raised the firm’s price target on MongoDB (MDB) to $395 from $375 and keeps an Overweight rating on the shares following a solid Q3 beat and raise, driven by solid upside on Atlas and more meaningful upside on EA. While the quarter was solid, there were some nuances, including plans to reallocate some mid-market resources to the enterprise segment, plans to deprecate Atlas Serverless and Atlas Device Synch, an announced CFO departure, and to KeyBanc, what seemed as though greater emphasis on EA going forward.
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