MongoDB shares' mega fall at Nasdaq has grabbed all eyes on Monday at the U.S. Stock Market. One of Wall Street's bigger losses hit MongoDB Inc or MDB, which dropped 19.9 per cent to USD 335.26 after the database company said its CEO, Chirantan “CJ” Desai, is stepping down immediately to pursue a senior role at Meta Platforms. MongoDB provides a database software used by businesses to build and run applications, with tools for data management, search, analytics and AI. Earlier in May this year, MongoDB Inc shares saw median 12-month price target of USD 370.00.
Meta said it is bringing its AI models, agents and tools to businesses through the new Meta Enterprise Platform, including its Muse agent, Meta Business Agent and coding tools.
What Led to MongoDB Shares Crash?
Meta Platforms on Monday appointed MongoDB's CEO Chirantan "CJ" Desai to lead its new offering designed to bring the social media company's AI tools to businesses. Shares of MongoDB fell 20 per cent in premarket trading after the company said Desai will step down as chief executive officer after a tenure of less than a year.
Desai took over the role in November from Dev Ittycheria. Desai, a veteran technology executive with over 25 years of experience, previously also held senior roles at ServiceNow, EMC, Symantec and Oracle.
MongoDB has appointed Ittycheria as interim president and CEO and has begun searching for a permanent CEO. Ittycheria, who took the helm in 2014 and led MongoDB's 2017 stock market debut, steered the company's transition from an open-source database project to a mainstream enterprise software provider.
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Rise and Fall of MongoDB Shares
MongoDB is a software company that provides a cloud-based database platform used to build and run modern applications. Its technology helps businesses manage data efficiently, combining search, analytics, and AI tools in one system.
In August 2025, shares of MongoDB surged about 31 per cent after the database software firm said its Atlas cloud service was seeing increasing usage as more customers build AI applications on the platform. Back then MongoDB was set to add more than $5.2 billion to its $17.51 billion market capitalization.
In 2025, more than 15 analysts raised their price target for the stock. The average rating for the company's shares are 'Buy', with a median price target of USD 325. Its shares trade 58.6 times the profit estimates, compared with 140.91 for Snowflake and 32.85 for Oracle .
MongoDB Q1 Revenue Jump
Earlier in May 2026, U.S. database software firm's fiscal Q1 revenue rose 25 per cent, beating analyst expectations. Adjusted EPS for fiscal Q1 beat consensus as the company raised full-year guidance, citing Atlas platform strength outlook.
MongoDB raised full-year fiscal 2027 guidance, citing strength in Atlas platform. Company expected Q2 revenue between $729 million and $734 million. MongoDB saw full-year fiscal 2027 revenue between $2.92 billion and $2.96 billion.
