Read How Analysts Reacted To MongoDB Post Q4 Earnings Beat - MongoDB (NASDAQ:MDB)

Analysts remained positive on MongoDB Inc MDB despite slashing their price targets on the stock post Q4 results.
Barclays analyst Raimo Lenschow lowered the PT to $410 from $556 (25% upside) and kept an Overweight. Atlas growth accelerated again compared to previous years.
Morgan Stanley kept an Overweight with an unchanged price target of $633 (90% upside).
The re-rating reflected growth in Atlas, accelerated growth in Enterprise Advanced, customer growth while guiding towards improved margins for FY23.
Mizuho analyst Matthew Broome cut the PT to $325 from $400 (fair priced) and kept a Neutral. While Atlas accelerated slightly to 85% year-over-year, the setup looked very favorable.
Credit Suisse analyst Phil Winslow cut the PT to $650 from $700 (98% upside) and kept an Outperform. MongoDB's strong consumption reflects operational databases' transactional/"always-on" nature.
Needham also cut its PT from $626 to $362 (10% upside) on the stock and kept a Buy.
The strength in Atlas and the broader business reflected innovations, investments, the large TAM with no slowdown in customer usage during 1QF23.
Price Action: MDB shares traded higher by 18.10% at 332.63 on the last check Wednesday.