MongoDB slumps as CEO exits after short tenure
MDB•MongoDB shares fell 16.7% premarket after CEO Chirantan “CJ” Desai stepped down with immediate effect. The company named Dev Ittycheria interim CEO and reaffirmed its third-quarter and FY27 forecasts.
1. CEO departure
MongoDB said Desai stepped down as CEO with immediate effect and named Dev Ittycheria interim CEO. Desai, who served for less than a year, will pursue a senior role at Meta.
2. Shares and forecasts
MongoDB shares fell 16.7% to $342 in premarket trading. The company reaffirmed its third-quarter and FY27 forecasts. Of 43 brokerages, 35 rated the stock “buy” or higher and eight rated it “hold”; the median price target was $470. The stock was down 2.2% year to date as of its last close.
