UBS Bumps Up MongoDB Price Target By 30%

UBS analyst Karl Keirstead upgraded MongoDB Inc MDB to Buy from Neutral with a price target of $450, up from $345 (20.8% upside).
Channel checks suggested MongoDB benefits directly from the mega-trend to build new applications using a micro-services architecture, solidifying his view that MongoDB is a "play on the apps modernization mega-trend."
The shares do not fully reflect increased usage of MongoDB databases for complex use cases requiring transactional consistency and possible widening of feature advantages relative to rivals.
Analysts hailed MongoDB's recent Q4 beat by setting substantial upsides to the stock.
Recently, MongoDB extended collaboration with Amazon.com Inc AMZN Amazon Web Services.
Price Action: MDB shares traded higher by 1.04% at $376.30 in the premarket on the last check Friday.