Shares of MongoDB (NASDAQ: MDB) were moving higher today after the database software specialist got an analyst upgrade, and seemed to benefit from a weaker-than-expected inflation report.
As a result, the stock was up 10.2% as of 12:10 p.m. ET on Wednesday.
Morgan Stanley upgraded its rating on MongoDB from equal weight to overweight after a survey showed that 73% of respondents are actively engaged with cloud optimization initiatives, which the analyst sees as an opportunity for MongoDB to gain market share and pivot to profitability.
Source Fool.com