Rosenblatt starts MongoDB at buy, neutral on Rubrik

Investing.com --Rosenblatt Securities initiated coverage of MongoDB (NASDAQ: MDB) with a buy rating and a $350 price target, on strong growth opportunities in the database market and AI-driven applications.

The brokerage sees MongoDB as a leading provider of NoSQL databases, set to benefit from the ongoing migration away from legacy systems.

Rosenblatt analyst noted that recent weakness in MongoDB’s stock but views the current levels as attractive for long-term investors.

“With the stock’s recent weakness on what we view as mostly misunderstandings,” analyst wrote.

For Rubrik Inc (NYSE: RBRK), Rosenblatt started coverage with a neutral rating and a $77 price target. The brokerage highlighted Rubrik's leadership in enterprise data protection and resilience software, which is well-positioned to address rising cyber threats like ransomware.

However, Rosenblatt said Rubrik’s recent rally following its Q3 results leaves limited near-term upside, with the firm awaiting a more favorable entry point.

“While we expect Rubrik to continue to grow rapidly and steadily drive operating margin improvement over the next few years, given the recent rapid stock price appreciation post-Q3 results,” analyst said.

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