Why MongoDB Stock Raced Nearly 5% Higher Today
Next-generation database specialist (NASDAQ: MDB) was an outlier stock on Monday. The company's shares rose by just under 5% on the day, thanks in no small part to a price target raise from an already-bullish analyst. With its ascent, MongoDB's stock trounced the S 500 index, which could only muster a 0.3% gain.
Well before market open that day, Barclays prognosticator Raimo Lenschow pulled that trigger. He lifted his price target on MongoDB to $280 per share; previously, he had pegged its fair value at $257. In doing so, he maintained his overweight (read: buy) recommendation on the specialty tech stock.
Lenschow's reasoning for the move wasn't immediately apparent, but it's par for the course. Analysts generally are counting on MongoDB to improve its results as the company continues to grow.
Source Fool.com
MongoDB Inc. Stock
With 40 Buy predictions and 2 Sell predictions MongoDB Inc. is one of the favorites of our community.
As a result the target price of 411 € shows a very positive potential of 81.1% compared to the current price of 226.95 € for MongoDB Inc..
