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MongoDB , Inc. (NASDAQ:MDB), a $16.7 billion market cap database software company with robust financial health according to InvestingPro analysis, held its Annual Meeting of Stockholders on Monday. According to a statement based on an SEC filing, shareholders voted on five proposals, including director elections, executive compensation, and a charter amendment.
For the board elections, Francisco D’Souza, Charles M. Hazard, Jr., and Tom Killalea were elected as Class II directors. D’Souza received 53,610,193 votes in favor and 4,180,403 withheld; Hazard, Jr. received 36,304,455 votes for and 21,486,141 withheld; Killalea received 51,573,580 votes for and 6,217,016 withheld. Each will serve until the 2028 annual meeting or until a successor is elected.
Shareholders approved, on a non-binding advisory basis, the compensation of the company’s named executive officers. The vote totaled 47,508,442 in favor, 10,120,841 against, and 161,313 abstentions.
On the frequency of future advisory votes on executive compensation, shareholders approved an annual vote, with 56,732,309 in favor of one year, 15,893 for two years, 806,102 for three years, and 236,292 abstentions.
The appointment of PricewaterhouseCoopers LLP as MongoDB’s independent registered public accounting firm for the fiscal year ending January 31, 2026, was ratified with 66,169,029 votes for, 1,142,941 against, and 68,859 abstentions.
Shareholders also approved an amendment to the company’s charter to limit the liability of certain officers as permitted by Delaware law. The vote was 50,001,328 in favor, 7,740,493 against, and 48,775 abstentions.
All information is based on a press release statement filed with the Securities and Exchange Commission. While MongoDB is currently unprofitable, InvestingPro data shows 25 analysts have revised their earnings upwards, expecting profitability this year. For deeper insights into MongoDB’s financial health and growth prospects, including 10+ additional ProTips and comprehensive analysis, explore the full Pro Research Report available on InvestingPro.
In other recent news, MongoDB reported impressive financial results for the first quarter of fiscal year 2026, with revenue reaching $549 million, a 22% increase year-over-year, surpassing the consensus estimate of $528 million. The company’s Atlas service showed a 26% growth, contributing significantly to this outcome. MongoDB’s subscription revenue also exceeded expectations, and the operating margin improved by 500 basis points. Analysts from Goldman Sachs noted a 71% increase in free cash flow, highlighting MongoDB’s robust financial health.
Several analyst firms have adjusted their price targets for MongoDB stock following these results. Citi raised its price target to $395, maintaining a Buy rating, while Goldman Sachs increased its target to $270, also with a Buy rating. Bernstein SocGen Group adjusted their target to $319, keeping an Outperform rating. Mizuho (NYSE:MFG) raised their target to $210 but maintained a Neutral rating, citing the uncertain macroeconomic environment.
The company has also increased its fiscal year 2026 revenue guidance by $10 million at the midpoint, despite facing a $50 million headwind from non-Atlas multi-year renewals. MongoDB’s recent acquisition of Voyage AI is seen as a strategic move, although immediate benefits are not expected. Cantor Fitzgerald continues to maintain an Overweight rating, emphasizing MongoDB’s strong start to the fiscal year and the resilience of its Cloud/Atlas segment.
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