Why MongoDB Stock Is Moving Lower Friday
Portfolio Pulse from Dylan Berman
MongoDB, Inc. (NASDAQ:MDB) shares are trading lower after issuing weak guidance for the upcoming quarter and fiscal-year 2025, despite beating Q1 earnings and revenue estimates. Analysts have lowered their price targets for the stock.
May 31, 2024 | 2:33 pm
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MongoDB shares are down 25.5% after the company issued weak guidance for Q2 and FY 2025, despite beating Q1 earnings and revenue estimates. Analysts have lowered their price targets.
The weak guidance for Q2 and FY 2025 has overshadowed the positive Q1 earnings and revenue results, leading to a significant drop in MongoDB's stock price. Multiple analysts have also lowered their price targets, indicating a bearish short-term outlook.
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