MongoDB rises 1.52% after 18.46% plunge on CEO departure

  • MongoDB CEO Chirantan Desai stepped down immediately to pursue a senior role at Meta Platforms.
  • MongoDB shares rose 1.52% to $339.76 in Tuesday premarket trading after Monday’s 18.46% drop.
  • MongoDB reaffirmed fiscal 2027 guidance issued Sept. 1, including quarterly and full-year forecasts.

MongoDB shares rose 1.52% to $339.76 in Tuesday premarket trading after falling 18.46% on Monday when CEO Chirantan Desai stepped down effective immediately to pursue a senior role at Meta Platforms. The company reaffirmed its third-quarter and full-year fiscal 2027 guidance issued Sept. 1, including third-quarter adjusted earnings of $1.57 to $1.61 per share and revenue of $756 million to $761 million. MongoDB’s full-year forecast remains adjusted earnings of $6.39 to $6.58 per share and revenue of $2.99 billion to $3.03 billion. The stock remains below its 20-, 50-, 100- and 200-day simple moving averages, while its MACD (a momentum indicator) remains below its signal line and its histogram is negative. Resistance is near $364.50 and support around $292. Analysts maintain a Buy consensus with an average price forecast of $467.79, while Scotiabank, Citigroup and Goldman Sachs raised their respective forecasts to $440, $565 and $520. Benzinga Edge gives MongoDB Momentum and Growth scores of 77.96 and 97.45, versus a Value score of 3.17. The stock is also held by several ETFs, including SKYY, CAML and LRNZ.

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