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Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?
MongoDB (MDB) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
IKT, EGO, MDB, PD and AVXL have been added to the Zacks Rank #1 (Strong Buy) List on January 26, 2023.
MongoDB (MDB) concluded the recent trading session at $410.11, signifying a -0.23% move from its prior day's close.
MongoDB, Inc. (MDB) Presents at 26th Annual Needham Growth Virtual Conference (Transcript)
The Zacks Internet Software industry participants like Snap (SNAP), MongoDB (MDB) and Zoom Video (ZM) are benefiting from high demand for SaaS due to the increasing need for remote working, learning and diagnosis software, as well as cybersecurity applications.
MongoDB Inc (NASDAQ:MDB)'s 108% stock-price gain in 2023 has its shares now matching the peak forward revenue multiple of about 16 times over the last two years, prompting UBS analysts to caution investors to take their "foot off the accelerator". In an update to clients, they downgraded MongoDB stock to ‘Neutral' from ‘Buy' while cutting their price target to $410 per share from $475.
Shares of software firm MongoDB more than doubled last year. UBS analyst Karl Keirstead downgraded the stock Thursday to Neutral from Buy.
Here is how MongoDB (MDB) and Alphabet (GOOGL) have performed compared to their sector so far this year.
Database management firm MongoDB is investigating a security breach that exposed customer information. In an alert published on its website Saturday (Dec. 16), the company said it was “actively investigating a security incident involving unauthorized access to certain MongoDB corporate systems, which includes exposure of customer account metadata and contact information.