Analysts Sees Up To 31% Upside For This Large Cap Tech Stock

MongoDB Inc's MDB Q2 revenue of $198.7 million increased 44% year-on-year, beating the analyst consensus of $184.2 million.
The adjusted EPS loss of $(0.24) exceeded the consensus loss of $(0.39).
MongoDB sees Q3 revenue between $202 million - $204 million above the consensus of $198.3 million. The EPS loss between $(0.42) - $(0.39) is below the consensus loss of $(0.37).
Analysts hailed Atlas and MongoDB's continued focus on product innovation.
Piper Sandler analyst Brent Bracelin maintained an Overweight rating and raised the price target from $425 to $525, implying a 30.7% upside.
Bracelin highlighted the enterprise adoption of Atlas and multi-cloud database service helping it score against proprietary cloud database offerings from Amazon Web Services, Azure, Google, and Oracle.
Barclays analyst Raimo Lenschow raised the PT to $505 from $420, signifying a 25.7% upside, and reiterated an Overweight.
Oppenheimer analyst Ittai Kidron raised the PT to $470 from $400, indicating a 17% upside, and affirmed an Outperform.
Citi analyst Tyler Radke raised the PT to $526 from $450, implying a 31% upside, and maintained a Buy.
Mizuho analyst Matthew Broome raised the PT to $410 from $350, indicating a 2.1% upside, and reiterated a Neutral.
UBS analyst Karl Keirstead raised the PT to $450 from $300, implying a 12% upside, but affirmed a Neutral.
Price Action: MDB shares traded higher by 22.6% at $492.39 in the market session on the last check Friday.

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