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Investing.com - MongoDB (NASDAQ:MDB) announced Monday that CEO Dev Ittycheria will retire, with CJ Desai appointed as his successor effective November 10, 2025. The company, currently valued at $29.6 billion, has maintained a "GOOD" overall financial health score of 2.88 according to InvestingPro data.
The leadership transition comes as part of the board’s succession planning process, following Ittycheria’s expressed desire to step back from a full-time operating role.
Desai brings significant enterprise software experience to MongoDB , having recently served as President of Product & Engineering at Cloudflare and previously as COO of ServiceNow.
Stifel analyst Brad Reback maintained a Buy rating and $375.00 price target on MongoDB stock, suggesting the CEO change comes from a position of strength and noting that Desai’s technical experience and track record scaling enterprise organizations will benefit the company. Currently trading at $363.01, the stock sits just 0.95% below its 52-week high of $385.44, with InvestingPro analysis indicating the stock may be overvalued compared to its Fair Value.
MongoDB also disclosed it expects to exceed its third-quarter fiscal 2026 guidance for revenue, operating income, and earnings per share. The company has demonstrated strong revenue growth of 21.9% over the last twelve months, with analysts forecasting EPS of $3.98 for fiscal 2026 despite not being profitable over the past year. For deeper insights and 14 additional ProTips on MongoDB, check out its comprehensive Pro Research Report on InvestingPro.
In other recent news, MongoDB has been the focus of several analyst updates and corporate developments. The company announced a significant leadership change with CEO Dev Ittycheria set to retire on November 10, to be succeeded by Chirantan "CJ" Desai. Desai’s previous roles include president of Product and Engineering at Cloudflare and COO at ServiceNow. In anticipation of MongoDB’s upcoming third-quarter fiscal 2026 earnings report, RBC Capital raised its price target for the company to $405, maintaining an Outperform rating. BMO Capital also increased its price target to $415, highlighting the CEO transition as a key factor. Citizens followed suit, raising the price target to $435 while maintaining a Market Outperform rating. Goldman Sachs expects MongoDB to exceed its third-quarter guidance for revenue, operating income, and earnings per share, prompting them to raise their price target to $405. Truist Securities increased their price target to $400, maintaining a Buy rating. These developments reflect a positive outlook from analysts amid MongoDB’s leadership changes and anticipated strong financial performance.
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