- UBS analyst Karl Keirstead upgraded MongoDB Inc (NASDAQ:MDB) to Buy from Neutral with a price target of $450, up from $345 (20.8% upside).
- Channel checks suggested MongoDB benefits directly from the mega-trend to build new applications using a micro-services architecture, solidifying his view that MongoDB is a "play on the apps modernization mega-trend."
- The shares do not fully reflect increased usage of MongoDB databases for complex use cases requiring transactional consistency and possible widening of feature advantages relative to rivals.
- Analysts hailed MongoDB's recent Q4 beat by setting substantial upsides to the stock.
- Recently, MongoDB extended collaboration with Amazon.com Inc (NASDAQ:AMZN) Amazon Web Services.
- Price Action: MDB shares traded higher by 1.04% at $376.30 in the premarket on the last check Friday.
