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MongoDB price target raised to $91 from $85 at Needham. Needham analyst Jack Andrews raised his price target on MongoDB to $91 and kept his Buy rating after its "strong" Q3 results that beat expectations on revenues and raised the midpoint of FY19 guidance by $15M. The analyst cites the performance for the quarter being driven by the "continued momentum at the land and expand model", with the company posting its 15th consecutive quarter of annual recurring revenue growth of 120%. Andrews adds that he expects MongoDB to "attack the growth of cloud-based workloads as the sprawl of Infrastructure as a service vendor databases could be misaligned with the high cost of database adoption".

MongoDB price target raised to $95 from $78 at Canaccord. Canaccord analyst Richard Davis raised his price target on MongoDB to $95 from $78 following Q3 results. The analyst cited its solid execution and uptick in several growth metrics during the quarter. The analyst recognized its high valuation and choppiness in the equity market, suggesting a starter position with the potential to buy the stock lower at a modest discount to current valuation. Davis reiterated his Buy rating on MongoDB shares.

Barclays ups MongoDB target to $108 on 'impressive' Q3 results. Barclays analyst Raimo Lenschow raised his price target for MongoDB to $108 from $105 saying the company last night posted an "impressive" Q3 with the main highlights being the strength in Atlas and the beat to billings. MongoDB continues to see an increasing amount of mission critical workloads, which is supported by the company's "strong" large deal metrics, Lenschow tells investors in a post-earnings research note titled "Momentum Continues With Atlas." The analyst continues to see MongoDB as "one of the most exciting stories in software" and he reiterates an Overweight rating on the shares.