Stock analysts at Canaccord Genuity assumed coverage on shares of Mongodb Inc (NYSE:MDB) in a report released on Monday, Marketbeat Ratings reports. The firm set a “buy” rating and a $35.00 price target on the stock. Canaccord Genuity’s target price would indicate a potential upside of 14.08% from the stock’s previous close.

The analysts wrote, “We believe it is more likely than not that over the next few years MongoDB will separate itself from several dozen next generation database vendors to the point that the firm will eventually scale well into the billions of dollars of revenues and 20%+ FCF margins. The fact that this firm will lose money for at least two more years means that the stock price path to that promise land is certain to be jagged. Even so, the fact that unlike our four most recent IPOs, MDB did not blow through any plausibly rational valuation level means that we can put a BUY rating on this stock right out of the box. We are initiating coverage with a BUY rating and $35 price target.””

MDB has been the topic of a number of other research reports. Needham & Company LLC initiated coverage on Mongodb in a research note on Monday, October 23rd. They issued a “hold” rating on the stock. JMP Securities initiated coverage on Mongodb in a research note on Monday. They issued a “market perform” rating on the stock. Goldman Sachs Group, Inc. (The) initiated coverage on Mongodb in a research note on Monday. They issued a “neutral” rating and a $30.00 price target on the stock. Finally, Barclays PLC initiated coverage on Mongodb in a research note on Monday. They issued an “overweight” rating and a $38.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $33.60.

Mongodb (MDB) traded up $0.48 during midday trading on Monday, hitting $30.68. The stock had a trading volume of 296,239 shares, compared to its average volume of 1,280,000. Mongodb has a 12 month low of $29.01 and a 12 month high of $34.00.

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About Mongodb

MongoDB, Inc offers MongoDB, a general purpose database platform. Its platform is designed to run applications at scale across a broad range of use cases in the cloud, on-premise or in a hybrid environment. Its primary subscription package is MongoDB Enterprise Advanced, which includes its proprietary database server, security, enterprise management capabilities, its graphical user interface, analytics integrations and technical support.

Analyst Recommendations for Mongodb (NYSE:MDB)

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