Read How Analysts Reacted To MongoDB Post Q1 Earnings Beat

Analysts appreciated MongoDB, Inc's MDB Q1 beat but cut the price target to reflect macro headwinds.
Needham analyst Mike Cikos maintained MongoDB with a Buy rating and lowered the price target from $362 to $310. The price target change reflected the declines in the broader stock market.
Cikos acknowledged MongoDB's strong 1QF23 feat outperforming guidance and expectations. Atlas' and Enterprise Advanced's growth impressed the analyst.
Cikos also appreciated the guidance raise after factoring in macroeconomic headwinds. He remained positive given the large TAM and early penetration of the market.
Piper Sandler analyst Brent Bracelin maintained MongoDB with an Overweight rating and lowered the price target from $585 to $430.
Atlas's growth streak helped ward off investor concerns coupled with the growth surprise from Enterprise Advanced. The price target reflected macro headwinds.
Bracelin acknowledged that MongoDB consolidated its stature as one of the marquee all-weather growth stocks to become the new modern cloud database of choice for future applications.
Canaccord Genuity maintained the Buy rating on MongoDB and lowered the price target to $300. Morgan Stanley maintained an Overweight rating on MongoDB and cut the price target to $368.
Stifel maintained Buy on MongoDB and lowered the price to $340, while Citigroup maintained the Buy rating on MongoDB and raised the price target to $425.
Price Action: MDB shares traded higher by 17.90% at $285.09 on the last check Thursday.

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