These Analysts Revise Price Targets On MongoDB Following Q3 Results

MongoDB Inc MDB posted upbeat sales for its third quarter and issued guidance above analyst estimates.

MongoDB said third-quarter revenue was up 47% year-over-year to $333.6 million, which beat average analyst estimates of $303.39 million. The company reported quarterly adjusted earnings of 23 cents per share, up from 3 cents per share year-over-year.

MongoDB said it expects full-year revenue to be between $1.257 billion and $1.26 billion versus estimates of $1.21 billion. Full-year adjusted earnings are expected to be between 29 cents and 31 cents per share.

MongoDB shares jumped 20.9% to $174.68 on Wednesday.

These analysts made changes to their price targets on MongoDB after the company released quarterly results.

• Needham cut price target on MongoDB from $330 to $225. Needham analyst Mike Cikos maintained a Buy rating on the stock.
• Mizuho slashed MongoDB price target from $190 to $170. Mizuho analyst Matthew Broome maintained a Neutral rating on the stock.
• UBS raised the price target on the stock from $200 to $215. UBS analyst Karl Keirstead maintained the stock with a Buy.
• Credit Suisse lowered the price target from $400 to $305. Credit Suisse analyst Phil Winslow maintained MongoDB with an Outperform.
• Barclays raised the price target from $233 to $240. Barclays analyst Raimo Lenschow maintained MongoDB with an Overweight.
• Goldman Sachs slashed the price target on the stock from $380 to $325. Goldman Sachs analyst Kash Rangan maintained MongoDB with a Buy.
• Morgan Stanley raised the price target from $215 to $230. Morgan Stanley analyst Sanjit Singh maintained MongoDB with an Equal-Weight.
• Oppenheimer lowered the price target from $375 to $320. Oppenheimer analyst Ittai Kidron maintained MongoDB with an Outperform.