Redburn Atlantic has revised its rating for MongoDB (MDB, Financial), upgrading it from a "Sell" to a "Neutral" status. Alongside this upgrade, the firm's price target for the stock has been adjusted to $170, a slight reduction from the previous $180 forecast.
The decision reflects the belief that MongoDB's share value has bottomed out, with its valuation multiple now trading near historical lows. According to the analyst, the company's earnings projections have already been recalibrated in light of current market conditions.
While there are still broader economic challenges that could impact earnings, these are not specific to the company itself. The analyst also indicates that prior structural concerns regarding MongoDB's competitive standing appear to have been accounted for in the current stock price.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 34 analysts, the average target price for MongoDB Inc (MDB, Financial) is $292.30 with a high estimate of $520.00 and a low estimate of $180.00. The average target implies an upside of 82.64% from the current price of $160.04. More detailed estimate data can be found on the MongoDB Inc (MDB) Forecast page.
Based on the consensus recommendation from 38 brokerage firms, MongoDB Inc's (MDB, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for MongoDB Inc (MDB, Financial) in one year is $433.07, suggesting a upside of 170.6% from the current price of $160.04. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the MongoDB Inc (MDB) Summary page.
