UBS analyst Karl Keirstead upgraded MongoDB to Buy from Neutral with a price target of $450, up from $345. The shares do not fully reflect two key emerging positives: that MongoDB databases are increasingly being used for complex use cases requiring “transactional consistency,” and that the company’s feature advantages relative to rivals may be widening, Keirstead tells investors in a research note. Following channel checks, the analyst believes MongoDB is benefiting directly from the “mega-trend” to build new applications using a micro-services architecture. This solidifies his view that the company is a “play on the apps modernization mega-trend.”
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