Why MongoDB Stock Dropped on Monday
Database company MongoDB (NASDAQ: MDB) tumbled 3% through 12:30 p.m. ET Monday after Bernstein analyst Firoz Valliji cut his price target on the stock nearly 12%, to $357 a share.In a write-up on the price target change, The Fly commented that MongoDB "faces a more difficult setup heading into Q4 results," and there's a further risk that 2025 guidance could disappoint when MongoDB reports earnings on March 5. That's the bad news. The good news is that once earnings are out of the way, Bernstein's analyst thinks the stock might be a buy. Indeed, Valliji is maintaining his outperform rating on the stock. But why?Continue reading
Database company MongoDB (NASDAQ: MDB) tumbled 3% through 12:30 p.m. ET Monday after Bernstein analyst Firoz Valliji cut his price target on the stock nearly 12%, to $357 a share.
In a write-up on the price target change, The Fly commented that MongoDB "faces a more difficult setup heading into Q4 results," and there's a further risk that 2025 guidance could disappoint when MongoDB reports earnings on March 5.
That's the bad news. The good news is that once earnings are out of the way, Bernstein's analyst thinks the stock might be a buy. Indeed, Valliji is maintaining his outperform rating on the stock. But why?
