MongoDB cut to Sell at Monness Crespi amid ‘onslaught of unforgiving forces’

As previously reported, Monness Crespi downgraded MongoDB (MDB) to Sell from Neutral with a $220 price target MongoDB’s Atlas is “mired in a protracted growth slump and void of the powerful tailwind implicit in the industry’s gen AI propaganda,” the company is wrestling with a go-to-market transition and the CFO, who also holds the COO title,” decided to call it quits last week,” writes the analyst, who argues that there is “no place for MongoDB to hide from this onslaught of unforgiving forces.”