MongoDB: MongoDB CFO appointment removes some overhang on shares, says BofA

In This Article: After MongoDB ( MDB ) announced that Mike Berry will join the company as CFO, BofA says the appointment of a "seasoned software executive with a proven track record of driving profitable growth" as the new CFO removes some overhang on the stock after almost five months since former CFO Michael Gordon announced his intention to step down. The firm, which sees limited downside at current levels, looks for a healthy topline reacceleration to provide a catalyst from here and reiterates a Buy rating and $215 price target on MongoDB shares. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. Published first on TheFly - the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on MDB: Disclaimer & Disclosure Report an Issue MongoDB: Buy Rating Affirmed Amid Leadership Strength and Attractive Valuation MongoDB Appoints Michael J. Berry as New CFO MongoDB names Mike Berry as CFO, effective May 27 MongoDB price target lowered to $160 from $240 at Scotiabank QQQ ETF News, 4/23/2025