Shares of MongoDB, Inc. (NASDAQ:MDB) are rising Monday after the company announced a leadership change and updated guidance.
- MDB stock is challenging resistance. Get the inside scoop here.
What To Know: MongoDB announced that its board appointed Chirantan “CJ” Desai as president and CEO, effective Nov. 10. Desai succeeds Dev Ittycheria, who has decided to retire from a full-time operating role after 11 years leading MongoDB. Ittycheria will remain on MongoDB’s board and serve as an advisor to Desai.
MondoDB also announced that it expects to exceed the high end of its previously provided third-quarter fiscal year 2026 guidance for revenue, income from operations and earnings per share.
MongoDB now expects to report more than $592 million in revenue for the third quarter versus estimates of $592.46 million. The company expects earnings per share to “exceed” 79 cents. Analysts are expecting earnings per share of 79 cents, according to Benzinga Pro.
MongoDB shares opened for trading around $385 on Monday before pulling back, according to Benzinga Pro. The company intends to report its full financial results for the third quarter on Dec. 1.
MDB Analysis: MongoDB’s stock is approaching its 52-week high of $385.44, reflecting strong bullish momentum as it continues to build on its impressive year-to-date performance of 47.6%. With the current price trading approximately 13.7% above its 50-day moving average of $317.56 and about 50.9% above its 200-day moving average of $239.28, the stock demonstrates robust upward trends.
The relative strength index (RSI) is currently at 74.18, indicating that the stock is in overbought territory. This could suggest a potential pullback or consolidation phase in the near term, especially as it nears its 52-week high. However, the absence of a defined resistance level beyond this high may allow for further price exploration if bullish sentiment persists.
Support for MongoDB is established at $330.00, which aligns closely with the stock’s recent price action. Should the price retreat, this level could serve as a critical point for buyers to step in and maintain the upward trajectory. Given the current dynamics, the stock’s ability to hold above this support level will be essential for sustaining its bullish outlook.
MDB Price Action: MongoDB shares were up 0.92% at $362.92 at the time of publication on Monday, according to Benzinga Pro.
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