MongoDB (MDB) shares were down more than 22% in recent Thursday trading after its fiscal 2026 guidance missed market expectations, leading some analysts to downgrade the stock.
"We downgrade shares of MDB...given the outlook for a greater than expected revenue deceleration and margin compression for FY26," KeyBanc analysts said in a note.
KeyBanc downgraded MongoDB to sector weight from overweight and removed its $395 price target. Wells Fargo also downgraded the stock to equal weight from overweight.
Other analysts cut their price targets, including UBS to $250 from $375, RBC to $320 from $400, and Oppenheimer to $330 from $400.
Late Wednesday, MongoDB said it expects fiscal 2026 non-GAAP EPS of $2.44 to $2.62 on revenue of $2.24 billion to $2.28 billion, compared with analyst estimates of $3.38 on $2.33 billion revenue in a FactSet poll.
Price: 203.44, Change: -60.69, Percent Change: -22.98