MongoDB price target raised to $425 from $360 at Stifel

Stifel raised the firm’s price target on MongoDB (MDB) to $425 from $360 and keeps a Buy rating on the shares following what the firm calls “a solid quarter” that highlight improving execution. While management expects a quarter-over-quarter decline in EA/Other revenue and seasonal Atlas consumption slowdown in Q4, the firm views the guidance as “conservative” given it assumes revenue declines about $12M quarter-over-quarter, the analyst added.