MongoDB stock plunges after forecast miss; analysts slash targets before Morgan Stanley conference
MongoDB shares fell about 22% to $252.73 in after-hours trading Tuesday after the company issued guidance that disappointed investors. Fourth-quarter revenue rose 27% to $695.1 million, with Atlas cloud business growth slowing to 29%. Management cited challenges in forecasting demand and announced senior go-to-market departures. CEO CJ Desai and CFO Mike Berry will speak at a Morgan Stanley conference Wednesday.