What's Up With MongoDB Shares Lately?

MongoDB, Inc. MDB shares traded higher Wednesday. Tigress Financial raised its price target significantly and several analysts have maintained positive ratings over the last week. 

What Happened: Tigress Financial analyst Ivan Feinseth maintained a Buy rating and raised the price target from $365 to $490 on Wednesday. Feinseth's price target change follows several others over the last week.

On Monday, Capital One analyst Connor Murphy initiated coverage on MongoDB with an Equal-Weight rating and announced a price target of $396 and Barclays analyst Raimo Lenschow maintained the company with an Overweight rating and raised the price target from $374 to $421.

Last Friday, six analysts issued price targets for the company.

• Piper Sandler analyst Brent Bracelin reiterated MongoDB with an Overweight and maintained the $400 price target.
• Needham analyst Mike Cikos reiterated MongoDB with a Buy and maintained the $430 price target.
• Wedbush analyst Taz Koujalgi reiterated MongoDB with an Outperform and maintained the $410 price target.
• RBC Capital analyst Rishi Jaluria maintained MongoDB with an Outperform and raised the price target from $400 to $445.
• Morgan Stanley analyst Sanjit Singh maintained MongoDB with an Overweight and raised the price target from $270 to $440.
• Truist Securities analyst Miller Jump maintained MongoDB with a Buy and raised the price target from $365 to $420.

The analyst updates came on the heels of several new product launches last week.

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MDB Price Action: Shares of MDB closed Wednesday up 2.49% at $398.02, according to Benzinga Pro.

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