MongoDB (MDB) stock jumped by 44.07% in a week to hit a near nine-month high following strong earnings and a higher price target from an investment firm. On Friday alone, MDB soared to $321.92, a 47% increase from the previous closing price. The company narrowed its net loss by 13.76% to $47 million and saw a revenue increase of 23.7% to $591 million in the second quarter. For the first half, net loss decreased by 37% to $84.67 million, with revenues growing by 22.7% to $1.14 billion. Macquarie raised MDB’s price target to $265, mentioning its strategic shift in go-to-market approach.

Read more at Yahoo Finance: MongoDB (MDB) Soars to 9-Month High on Strong Earnings, Higher PT