Bank of America lowered its price objective for MongoDB (NASDAQ: MDB) from $400.00 to $350.00.
The firm maintained its underperform rating on the stock.
MongoDB shares traded significantly lower following the announcement.
Barclays, Piper Sandler, UBS, and Cantor Fitzgerald also recently reduced their price targets.
The current analyst consensus for MongoDB remains a Moderate Buy.
The average target price for the stock stands at $361.97.