Why MongoDB Stock Spiked to All-Time Highs
Shares of MongoDB (NASDAQ: MDB) have spiked as much as 11% today to all-time highs today after getting an upgrade from Wall Street. Morgan Stanley boosted its rating on MongoDB from equal weight (equivalent to neutral) to overweight (equivalent to buy) while raising its price target from $295 to $439.
Analyst Sanjit Singh argues that MongoDB has become one of the most popular database providers in the market and believes that the database technology company can extend its lead over the competition. MongoDB helps support the development of modern applications, which is helping the company's Atlas offering grow and accelerate customer additions.
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Source Fool.com
