Nomura Instinet analyst Christopher Eberle said much of the beat MongoDB reported last night came from new ASC 606 revenue recognition adjustments, which he noted is implied to be 5% of the fiscal 2020 revenue guidance. This accounts for $18M-$19M in additional revenue, leaving full-year revenue guidance on an ASC 605 apples-to-apples basis "exactly in line" with Street estimates of $347M, Eberle wrote earlier in a research note to investors. As such, he views the guidance as a "disappointment at current valuations." The "debate is far from over," the analyst adds. He raised his price target for MongoDB to $70 from $63 and kept a Reduce rating on the name. The stock in morning trading is up 26%, or $27.39, to $131.65.