MongoDB price target raised to $430 from $400 at Tigress Financial

Tigress Financial raised the firm’s price target on MongoDB (MDB) to $430 from $400 and keeps a Strong Buy rating on the shares. MongoDB will continue to see increasing developer adoption and increasing momentum in its Atlas Database-as-a-Service platform driven by increasing AI capabilities as it continues to gain market share across the largest and most strategic market opportunities in enterprise software, the analyst tells investors in a research note. The firm added that the company’s ongoing AI integration and expansion into new industry vertical swill drive greater enterprise adoption, customer penetration, international expansion, and acceleration in Business Performance trends.