2024-03-06 14:37:00 ET
MongoDB (NASDAQ: MDB) is due to report fourth-quarter earnings after close of trading on Thursday -- and Wall Street is nervous. Analysts following the database are expecting strong sales growth for the quarter -- more than 20% -- but a steep falloff in earnings, which could plunge 17% to $0.47 per share.
Or perhaps I should say most analysts are nervous.
On Wednesday morning, before earnings even come out, Citigroup analyst Tyler Radke decided to double down on his "buy" rating on MongoDB stock -- and raise his target price to $550 per share , implying 34% upside in MongoDB stock.
For further details see:
MongoDB Stock Has 34% Upside, According to 1 Wall Street Analyst