Barclays Maintains Overweight on MongoDB, Lowers Price Target to $458
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Raimo Lenschow maintains an Overweight rating on MongoDB (NASDAQ:MDB) but lowers the price target from $478 to $458.
March 08, 2024 | 11:19 am
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Barclays maintains an Overweight rating on MongoDB but lowers the price target from $478 to $458.
The adjustment in price target by Barclays, while maintaining an Overweight rating, suggests a positive outlook on MongoDB's fundamentals but with a slightly reduced growth or profit expectation in the short term. This could lead to mixed reactions in the market, potentially stabilizing the stock price as investors digest the implications of the new price target.
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IMPORTANCE 75
RELEVANCE 100