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Why MongoDB Shares Are Rising

Published 18/03/2022, 18:32
© Reuters.  Why MongoDB Shares Are Rising
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MongoDB Inc (NASDAQ: MDB) shares are trading higher Friday following bullish analyst coverage from UBS.

UBS analyst Karl Keirstead upgraded MongoDB from a Neutral rating to a Buy rating and raised the price target from $345 to $450.

Keirstead sees two positives for the stock that investors are yet to price in: MongoDB databases are increasingly being used in more complex situations often involving transactional consistency. The company also offers more features for its products than the competition, he said.

The UBS analyst believes MongoDB is a great way to play the increasingly popular trend of application modernization.

See Also: Expert Ratings For MongoDB

MDB 52-Week Range: $238.01 - $590

MongoDB shares were up 7.12% at $398.36 at time of publication.

Photo: David Martín from Flickr.

Latest Ratings for MDB

DateFirmActionFromTo
Mar 2022NeedhamMaintainsBuy
Mar 2022MizuhoMaintainsNeutral
Mar 2022 Barclays (LON:BARC)MaintainsOverweight
View More Analyst Ratings for MDB

View the Latest Analyst Ratings

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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