Tuesday morning, a new bull joined the ranks of believers in MongoDB (NASDAQ: MDB) stock. As a result, the stock closed the day nearly 4% higher, trouncing the basically flat performance of the S&P 500 index.

That bull is Credit Suisse analyst Fred Lee, who assumed his company's coverage of MongoDB stock. Happily for the latter, Lee has tagged it with an outperform (read: Buy) recommendation at his bank's existing price target of $305 per share. That's more than 50% above the stock's current level.

The Credit Suisse prognosticator is not the only member of his peer group to consider MongoDB undervalued. Last week, Citigroup's Tyler Radke went so far as to flag the stock as one of his top picks in the software industry. A day before that, Wedbush's Taz Koujalgi initiated coverage of the stock with his own outperform recommendation at a price target of $240.

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Source Fool.com