These Analysts Slash Their Forecasts On MongoDB After Q1 Results

MongoDB, Inc. MDB posted upbeat first-quarter results, but issued weak FY25 guidance on Thursday.

MongoDB reported quarterly earnings of 51 cents per share, which beat the analyst consensus estimate of 40 cents by 27.5%. Quarterly sales came in at $450.56 million, beating the analyst consensus estimate of $439.64 million by 2.48%, according to data from Benzinga Pro.

"MongoDB's delivered solid first quarter results, highlighted by 32% Atlas revenue growth. At the same time, we had a slower than expected start to the year for both Atlas consumption growth and new workload wins, which will have a downstream impact for the remainder of fiscal 2025," said Dev Ittycheria, president and CEO of MongoDB.

MongoDB said it sees second-quarter earnings of between 46 cents and 49 cents per share, versus the 58 cents estimate, and quarterly revenue in a range of $460 million to $464 million, versus the $470.43 million estimate. The company sees fiscal-year 2025 earnings between $2.15 and $2.30 per share, versus the $2.50 per share estimate, and full-year revenue in a range of $1.88 billion to $1.90 billion, versus the $1.93 billion estimate.

MongoDB shares fell 7.2% to close at $310.00 on Thursday.

These analysts made changes to their price targets on MongoDB after the company reported quarterly results.

• Piper Sandler cut the price target on MongoDB from $480 to $350. Piper Sandler analyst Brent Bracelin maintained an Overweight rating.
• Needham lowered MongoDB price target from $465 to $290. Needham analyst Mike Cikos maintained a Buy rating on the stock.

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