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MongoDB , Inc. (NASDAQ:MDB), a leader in database software, announced today the upcoming resignation of its Interim Chief Financial Officer, Srdjan ("Serge") Tanjga. Mr. Tanjga will officially leave his position on May 8, 2025, after serving as the principal financial officer. The company has confirmed that there will be no material changes to Mr. Tanjga’s compensation arrangement due to his departure.
The technology firm, headquartered in New York, is currently in the final stages of appointing a new CFO. MongoDB expects to make an announcement regarding the new appointment within the next 7 to 10 days. The company has maintained strong revenue growth of 19.2% over the last twelve months, with analysts expecting continued profitability in the coming year.
This executive change comes at a time when MongoDB has not indicated any specific reason for Mr. Tanjga’s resignation, nor has it highlighted any disputes or disagreements that might have led to his decision. The company’s filing with the Securities and Exchange Commission (SEC) emphasized that the forward-looking statements regarding the appointment of a new CFO are based on current expectations and carry certain risks and uncertainties that could cause actual results to differ.
Investors are advised to consider the company’s most recent annual and quarterly reports for a more comprehensive understanding of the risks involved. MongoDB has stated that it does not intend to update the forward-looking statements provided in the report following the filing date.
This news is based on a press release statement and the latest SEC filing by MongoDB, Inc. As the market awaits the announcement of the new CFO, MongoDB’s shares continue to be actively traded on the Nasdaq Global Market under the ticker symbol MDB.
In other recent news, MongoDB has been the subject of several analyst evaluations following its latest earnings report. RBC Capital Markets reduced their price target for MongoDB from $400 to $320 while maintaining an Outperform rating, citing guidance that fell short of market expectations. The company’s financial outlook for fiscal year 2026 indicated revenue and operating margin projections below consensus, attributed to a decrease in multiyear deal activity. Despite this, MongoDB’s Atlas revenue showed a 24% increase in the fourth quarter, although this was a slight deceleration from the previous quarter. Citi analysts, on the other hand, maintained a Buy rating with a $430 price target, expressing confidence in MongoDB’s growth potential and viewing the current stock pullback as a buying opportunity.
Meanwhile, Redburn-Atlantic upgraded MongoDB from a Sell to a Neutral rating, with a revised price target of $170, reflecting recalibrated earnings expectations. Stifel also adjusted their price target from $340 to $275 but retained a Buy rating, highlighting competition from PostgreSQL as a factor in their decision. DA Davidson maintained a Buy rating with a $275 target, emphasizing optimism for MongoDB’s Atlas growth and a potential re-rating of shares as the year progresses. These developments reflect a range of perspectives on MongoDB’s financial health and market positioning amid evolving economic conditions and competitive dynamics.
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