What's Going On With MongoDB Stock Today?

MongoDB Inc MDB shares are trading lower Thursday after the company reported fourth-quarter financial results and issued weak revenue guidance showing slowing growth ahead.

• Q4 Revenue: $361.3 million beat estimates of $337.66 million
• Q4 EPS: 57 cents may not compare to estimates of 7 cents

Outlook: MongoDB sees first-quarter revenue in a range of $344 million to $348 million versus estimates of $355.93. The company sees first-quarter adjusted earnings in a range of 17 cents to 20 cents per share versus estimates of 14 cents per share.

MongoDB expects full-year 2024 revenue to be between $1.48 billion and $1.51 billion versus estimates of $1.58 billion. Full-year earnings are expected to be between 96 cents per share and $1.10 per share versus estimates of 61 cents per share.

"We remain focused on acquiring new customers and workloads while driving greater efficiency across the business, which we are confident will enable us to further capitalize on our long-term opportunity when economic conditions normalize," said Dev Ittycheria, president and CEO of MongoDB.

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Analyst Assessment: Several analysts are out with updated price targets following the company's quarterly results.

• Barclays analyst Raimo Lenschow maintained MongoDB with an Overweight and lowered the price target from $264 to $257.
• JMP Securities analyst Patrick Walravens maintained MongoDB with a Market Outperform and raised the price target from $215 to $245.
• Citigroup analyst Tyler Radke maintained MongoDB with a Buy and lowered the price target from $295 to $290.
• Mizuho analyst Matthew Broome maintained MongoDB with a Neutral and lowered the price target from $220 to $180.
• Needham analyst Mike Cikos maintained MongoDB with a Buy and raised the price target from $240 to $250.
• Goldman Sachs analyst Kash Rangan maintained MongoDB with a Buy and lowered the price target from $325 to $280.

MDB Price Action: MongoDB has a 52-week high of $471.96 and a 52-week low of $135.15.

The stock was down 10.01% at $205.79 at the time of writing, according to Benzinga Pro.

Photo: Garrett Heath from Flickr.