Dev Enticheria, CEO of Mongodab
Adam Jeffrey | CNBC
Mongodab Shares decreased by more than 20% after database software manufacturer Shared weak guidance This indicated recession in development.
For FY 2026, the company said that it expects a revenue of adjusted income $ 2.44 to $ 2.62 per share and $ 2.24 billion to $ 2.28. Analysts expected EPS of $ 3.34 and $ 2.32 billion in revenue.
Weak guidance stems from a slow growth in the company’s Atlas cloud-based database service. The revenue projection will increase by 12.7%, the company made the fastest growth to return to its 2017 stock market.
Finance Head Shrijan Tanjaga said during an earning call that the company is seeing a slow-to-introduced increase in new applications that exploit its ATLAS cloud-based database service. However, Mongodb is hiring and going to work after deals with large companies.
For the first quarter of the financial year, MongodB estimates from 63 cents to 67 cents to 67 cents from $ 524 million to $ 524 million to $ 529 million to $ 529 million from $ 529 million to $ 524 million. Analysts provided by LSEG expected EPS of 62 cents and revenue of $ 526.8 million.
Citing Mongodb’s weak approach and recession in development, Wales Fargo analyst Andrew Novinski dropped shares down for equal weight and reduced its value target.
“With a small pool of multi-year-old deals, we believe that it will be difficult to make the expectations much better in FY 26 and so the shares are expected to be range-bound,” he wrote.
Read more of nowinski Analysis here,
Outlook of Mongodb offered a strong-to-the-affected fiscal fourth quarter earnings. The company reported adjusted income of $ 1.28 per share except for $ 548 million in revenue, except for items. Analysts provided by LSEG estimated 66 cents EPS and $ 520 million in sales. Revenue increased by 20% from a year ago.
Mongodb received 1,900 customers in the quarter, showing a total of 54,500.
– Jordan Novet of CNBC contributed to reporting.
