MongoDB Inc Receives a Buy from Canaccord Genuity

By Carrie Williams

Canaccord Genuity analyst Richard Davis maintained a Buy rating on MongoDB Inc (NASDAQ: MDB) today and set a price target of $45. The company’s shares closed yesterday at $37.86.

According to TipRanks.com, Davis is a top 25 analyst with an average return of 29.4% and a 77.1% success rate. Davis covers the Technology sector, focusing on stocks such as Bottomline Technologies, Altair Engineering Inc, and Nuance Communications.

Currently, the analyst consensus on MongoDB Inc is Strong Buy and the average price target is $42.67, representing a 12.7% upside.

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

The company has a one-year high of $41.21 and a one-year low of $24.62. Currently, MongoDB Inc has an average volume of 288.4K.

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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.