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NEW YORK - MongoDB, Inc. (NASDAQ: MDB), a leading database platform provider, has announced the appointment of seasoned finance executive Mike Berry as its new Chief Financial Officer, effective May 27, 2025. Berry’s role will encompass leading the company’s financial operations, including accounting, financial planning and analysis, treasury, and investor relations. The appointment comes as MongoDB maintains a strong financial position, with InvestingPro data showing the company holds more cash than debt and maintains a healthy current ratio of 5.2x, indicating robust liquidity.
With over three decades of experience in the software and cloud industries, Berry joins MongoDB after a successful tenure as CFO at NetApp. His extensive background includes serving as CFO for several other technology companies such as McAfee, FireEye, Informatica, IO, Solarwinds, and i2 Technologies. MongoDB’s President and CEO, Dev Ittycheria, expressed confidence in Berry’s strategic and financial expertise, particularly highlighting his history of scaling businesses and aligning with MongoDB’s vision for the future. The company has demonstrated strong revenue growth, with InvestingPro analysis showing a 19.2% increase in the last twelve months and a impressive five-year revenue CAGR of 37%.
Berry’s appointment comes at a time when MongoDB is focusing on the potential of General Artificial Intelligence (GenAI) to revolutionize application development and modernize legacy workloads. His track record in driving growth and his experience with consumption models are seen as assets that will support MongoDB’s strategic and financial objectives.
Additionally, MongoDB has scheduled to report its first quarter fiscal year 2026 financial results on June 4, 2025, after the U.S. financial markets close. A conference call to discuss these financial results and the company’s business outlook will follow on the same day. While the stock has faced recent pressure, declining 36% over the past six months, analysts maintain a bullish outlook. According to InvestingPro, which offers comprehensive analysis through its Pro Research Reports covering 1,400+ top stocks, MongoDB shows promising signs with analysts projecting profitability this year despite current market challenges.
This news is based on a press release statement and contains forward-looking statements regarding the company’s expectations of Berry’s performance as CFO. MongoDB emphasizes its mission to empower innovators through its globally distributed database platform, serving millions of developers and thousands of customers in various industries, including a significant portion of the Fortune 100. The company maintains strong fundamentals with a gross profit margin of 73.3% and an Altman Z-Score of 13.5, indicating solid financial health.
Investors and interested parties are advised to view the financial results and listen to the conference call for insights into the company’s performance and strategic direction.
In other recent news, MongoDB has experienced several noteworthy developments. Stifel analysts have adjusted their expectations for MongoDB, lowering the price target from $340 to $275 while maintaining a Buy rating. This change reflects concerns over competition from PostgreSQL, though a survey of customers indicated continued growth for MongoDB’s Atlas service. Meanwhile, Redburn-Atlantic upgraded MongoDB’s stock rating from Sell to Neutral, setting a new price target of $170, acknowledging the stock’s near historical lows. However, Scotiabank reduced its price target for MongoDB to $160 from $240, maintaining a Sector Perform rating due to competitive pressures and market traction concerns.
Additionally, MongoDB announced the resignation of its Interim Chief Financial Officer, Srdjan Tanjga, effective May 8, 2025. The company is in the final stages of appointing a new CFO, with an announcement expected soon. Tanjga will join Appian Corporation as their CFO, leaving MongoDB amidst a strategic leadership transition. The market is closely watching for MongoDB’s new CFO appointment, which is crucial for the company’s financial strategy. These developments highlight the dynamic environment MongoDB is navigating, marked by analyst reassessments and executive changes.
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