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NEW YORK - MongoDB, Inc. (NASDAQ:MDB) announced Monday that Chirantan "CJ" Desai will succeed Dev Ittycheria as President and Chief Executive Officer, effective November 10, 2025. The database company, currently valued at $29.27 billion, has maintained a "GOOD" overall financial health score according to InvestingPro data, with its stock trading near its 52-week high of $370.
Desai joins MongoDB from Cloudflare, where he served as President of Product and Engineering. He previously held the role of President and Chief Operating Officer at ServiceNow, where he helped scale the company from $1.5 billion to over $10 billion in annualized revenue.
Ittycheria, who led MongoDB for 11 years, will remain on the company’s Board of Directors and serve as an advisor to ensure a smooth transition.
"CJ brings an exceptional blend of product and engineering leadership, strong go-to-market execution, and firsthand experience scaling some of the world’s most transformative software companies," said Tom Killalea, Chairman of MongoDB’s Board.
The appointment follows a comprehensive search process supported by an executive search firm to identify a leader with experience in cloud infrastructure, AI, enterprise software, and product innovation.
MongoDB also announced preliminary financial results for the third quarter of fiscal year 2026, stating it expects to exceed the high end of its previously provided guidance for revenue, non-GAAP income from operations, and non-GAAP earnings per share. The company cited continued strength in its Atlas platform as the driver for the better-than-expected performance. InvestingPro data shows 30 analysts have revised their earnings upwards for the upcoming period, with net income expected to grow this year. Despite not being profitable over the last twelve months, analysts predict MongoDB will be profitable this fiscal year.
The database company plans to report its finalized financial results for Q3 FY2026 on December 1, 2025.
MongoDB serves approximately 60,000 customers globally, including over 75% of Fortune 100 companies, according to the company’s press release statement.
In other recent news, MongoDB has seen a series of stock price target increases by several investment firms. Piper Sandler raised its price target for MongoDB to $400 from $345, citing the company’s vision to scale to $5 billion in revenue and achieve the Rule of 40 benchmark. Truist Securities also increased its target to $375 from $330, expressing optimism about MongoDB’s consumption trends following their attendance at the company’s 2025 investor day. Similarly, JMP Securities raised its target to $375 from $345, maintaining a Market Outperform rating after attending MongoDB’s investor day event. Canaccord Genuity increased its price target to $375 from $340, highlighting MongoDB’s potential to capture the AI application cycle. Scotiabank adjusted its target to $320 from $280, noting healthy momentum after engaging with over 10 MongoDB customers at the .local NYC 2025 event. These developments reflect the growing confidence among analysts in MongoDB’s strategic direction and financial prospects.
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