News about MDB

MongoDB (MDB) closed at $348.69 on October 19 and is up 32% over six months. CEO Chirantan Desai left on September 28 to join Meta, and shares fell about 15% that day, even though the company reaffirmed its guidance of $2.99-$3.03 billion in revenue for the year to January. That guidance implies about 22% growth, below the 30.50% revenue growth of the prior quarter, and the balance sheet carries almost no debt, so the article argues the forecast can be held. Dev Ittycheria, who ran the company from 2014 until last year, has returned as interim CEO while the board searches. The article says the market reacted to less certainty about the outlook rather than an error, and notes that with a 3.68% operating margin a small miss would move earnings sharply, while the shares trade at 70.42 times expected next-year earnings.