What's Going On With MongoDB Stock?
Portfolio Pulse from Erica Kollmann
MongoDB, Inc. (NASDAQ:MDB) shares have declined over 10% in the past five days, attributed to Nasdaq's weakness. Despite this, MongoDB's stock has surged over 80% in the past year, driven by the growing adoption of artificial intelligence and the expansion of its Atlas data platform to new cloud regions. Guggenheim maintains a Sell rating but raised its price target from $250 to $272. MongoDB is expected to report Q4 earnings of 47 cents per share and revenue of $433.831 million. The company's long-term stock performance suggests a potential future price of $1771.85.
March 05, 2024 | 5:25 pm
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NEUTRAL IMPACT
MongoDB's stock has seen a short-term decline but maintains strong yearly growth due to AI adoption and Atlas platform expansion. Guggenheim's Sell rating persists, yet the price target increased. Upcoming Q4 earnings are anticipated to reflect significant revenue.
The short-term impact on MDB's stock is neutral due to the mixed signals: recent decline versus strong yearly growth, expansion, and raised price target by Guggenheim. The upcoming Q4 earnings report could sway the stock's direction depending on whether it meets, exceeds, or falls short of expectations.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100