MongoDB, Inc.

MDB

US60937P1066

Software

Market Closed - Nasdaq Other stock markets 04:00:00 2024-07-12 pm EDT			5-day change	1st Jan Change
253.2 ^USD	+1.77%		-5.08%	-38.08%

Jul. 12	Piper Sandler Cuts Price Target on MongoDB to $300 From $350, Maintains Overweight Rating	MT
Jul. 12	Tigress Cuts MongoDB Price Target to $400 From $500; Maintains Buy Rating	MT

MONGODB SHAREHOLDER ALERT by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Reminds Investors With Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against MongoDB, Inc. - MDB

July 12, 2024 at 11:10 am EDT

Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until September 9, 2024 to file lead plaintiff applications in a securities class action lawsuit against MongoDB, Inc. (NasdaqGM: MDB). This action is pending in the United States District Court for the Southern District of New York.

What You May Do

If you purchased securities of MongoDB and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgm-mdb/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by September 9, 2024.

About the Lawsuit

MongoDB and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

On May 30, 2024, the Company released its first quarter fiscal year 2025 results, disclosing significantly reduced growth expectations and cutting fiscal year 2025 growth projections, due to the Company’s decision to change its sales incentive structure to reduce enrollment frictions, along with some allegedly unanticipated macro headwinds.

On this news, the price of MongoDB’s shares fell nearly 24%, from a closing price of $310.00 per share on May 30, 2024 to $236.06 per share on May 31, 2024.

The case is Baxter v. MongoDB, Inc., et al., 24-cv-05191.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, Delaware, California, Louisiana and New Jersey.

To learn more about KSF, you may visit www.ksfcounsel.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240712431125/en/

Latest news about MongoDB, Inc.

Piper Sandler Cuts Price Target on MongoDB to $300 From $350, Maintains Overweight Rating	Jul. 12	MT
Tigress Cuts MongoDB Price Target to $400 From $500; Maintains Buy Rating	Jul. 12	MT
Tigress Financial Cuts Price Target on MongoDB to $400 From $500, Maintains Buy Rating	Jul. 12	MT
Mongodb Insider Sold Shares Worth $1,261,161, According to a Recent SEC Filing	Jul. 11	MT
Bendigo and Adelaide Bank Partners with MongoDB, Inc. to Modernize Core Banking Technology Using Generative AI	Jun. 13	CI
Apple Overtakes Microsoft as Most Valuable Company Amid AI Push	Jun. 12	MT
The first rate cut	Jun. 06
ANALYST RECOMMENDATIONS : American Airlines, Salesforce, Five Below, Tesla, Okta...	Jun. 06
Transcript : MongoDB, Inc. Presents at The 44th Annual William Blair Growth Stock Conference, Jun-05-2024 04:40 PM	Jun. 05
Transcript : MongoDB, Inc. Presents at Baird 2024 Global Consumer, Technology & Services Conference, Jun-04-2024 01:25 PM	Jun. 04
A rate cut is finally in sight	Jun. 03
Citigroup Adjusts Price Target on MongoDB to $350 From $480, Maintains Buy Rating	Jun. 03	MT
ANALYSTS RECOMMENDATIONS : Best Buy, Dell Technologies, Moderna, AMD, National Grid...	Jun. 03
Guggenheim Upgrades MongoDB to Neutral From Sell	Jun. 03	MT
Equities Mostly Rise as Fed's Preferred Inflation Measure Meets Street Views	May. 31	MT
Equities Mostly Rise as Fed's Preferred Inflation Measure Meets Expectations	May. 31	MT
US Equities Markets Close Mixed Friday as Fed's Preferred Inflation Measure Meets Expectations	May. 31	MT
Equities Mixed Intraday as Fed's Preferred Inflation Measure Meets Expectations	May. 31	MT
Sector Update: Tech Stocks Retreat Friday Afternoon	May. 31	MT
Top Midday Decliners	May. 31	MT
US Equity Indexes Mixed After Fed's Preferred Inflation Data Meets Market Expectations	May. 31	MT
US Equity Indexes Mixed After Fed's Preferred Inflation Data Meeting Market Expectations	May. 31	MT
JMP Securities Adjusts Price Target on MongoDB to $380 From $440, Maintains Market Outperform Rating	May. 31	MT
Wedbush Adjusts MongoDB Price Target to $280 From $475, Maintains Outperform Rating	May. 31	MT
Mizuho Adjusts Price Target on MongoDB to $250 From $380, Maintains Neutral Rating	May. 31	MT

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Company Profile

MongoDB, Inc. specializes in developing and operating a development database platform. The group offers the intuitive and scalable MongoDB multi-cloud platform, enabling developers to create, modernize, deploy and manage applications in the fields of Artificial Intelligence, Edge computing, Internet of Things, mobile applications and payment technology. Net sales break down by source of income as follows: - subscription sales (96.2%); - service sales (3.8%). At the end of January 2023, the group had more than 40,800 customers. Net sales are distributed geographically as follows: Americas (60.9%), Europe-Middle East-Africa (28.2%) and Asia-Pacific (10.9%).

Sector

Software

Calendar

2024-08-28 - Q2 2025 Earnings Release (Projected)

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