Reported 4 months ago
Following MongoDB's disappointing earnings report and slower growth in the first quarter, analysts have reevaluated the company. Despite revenue of $450.6 million, a 22% increase from the previous year, and adjusted first-quarter earnings of 51 cents per share, analysts lowered their stock price targets. Bank of America Securities set a new target of $300, while Piper Sandler and Morgan Stanley also adjusted their price targets to $350 and $320 respectively due to challenges from a challenging macro environment and changes in sales execution strategies.
Source: YAHOO