🔴 MongoDB is trading 5% down today as BofA and other firms slash price targets

MDB is trading at $245.77 (-4.78%) as a wave of analyst price target cuts, led by Bank of America, fuels a continued sell-off.

• Bank of America lowered its price target from $400 to $350 while maintaining an Underperform rating.
• Barclays, Piper Sandler, UBS, and Cantor Fitzgerald also recently reduced targets, amplifying the downward pressure.
• The decline extends a -4.24% drop from the April 23 close of $258.11, occurring while the Nasdaq is up 0.42%.