Barclays Believes MongoDB Inc (NASDAQ: MDB) Won’t Stop Here

By Carrie Williams

Barclays analyst Raimo Lenschow maintained a Buy rating on MongoDB Inc (NASDAQ: MDB) today and set a price target of $45. The company’s shares opened today at $40.50, close to its 52-week high of $41.21.

According to, Lenschow is a top 100 analyst with an average return of 17.8% and a 76.9% success rate. Lenschow covers the Technology sector, focusing on stocks such as Cornerstone Ondemand, Coupa Software Inc, and Informatica Corp.

Currently, the analyst consensus on MongoDB Inc is Strong Buy and the average price target is $43.25, representing a 6.8% upside.

In a report released today, Needham also reiterated a Buy rating on the stock with a $43 price target.

Based on MongoDB Inc’s latest earnings report for the quarter ending January 31, the company posted quarterly revenue of $45.04 million and GAAP net loss of $26.37 million. In comparison, last year the company earned revenue of $29.93 million and had a GAAP net loss of $21.82 million.

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MongoDB, Inc. engages in the development and provision of an open-source, document database. Its products include MongoDB Enterprise Advanced, MongoDB Professional, Development Support, Ops and Cloud Manager. Its services include consulting and training. The company was founded by Eliot Horowitz, Dwight A. Merriman, Kevin P.