MongoDB drops after CFO steps down

Mongodb

10/12/2024 17:08

** Developer data platform MongoDB's  MDB.O  shares slide
13.8% to $301.76, their worst day since May 31
    ** Co announces Chief Operating Officer and Chief Financial
Officer Michael Gordon to step down on Jan. 31, 2025
    ** Senior Vice President of Finance Serge Tanjga to serve as
interim CFO starting Feb. 1
    ** Co raises annual revenue forecast to between $1.97 bln
and $1.98 bln, up from previous expectation of $1.92 bln to
$1.93 bln
    ** Forecasts Q4 2025 revenue in range of $515 mln to $519
mln vs analysts' average estimate of $508.94 mln - LSEG data
    ** Reports Q3 revenue of $529.4 million, beating estimates
of $501.97 million
    ** At least 14 brokerages raise PT on stock
    ** Including session's moves, MDB down 26.2% YTD

 (Reporting by Nikhil Sharma in Bengaluru)
 ((Nikhil.Sharma@thomsonreuters.com;))