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Stifel Sticks With Buy on MongoDB After Selloff, but Sees a Slower Recovery

Stifel kept its Buy rating and $465 target on MongoDB after the CEO-exit selloff, citing limited near-term downside but flagging the leadership transition and PostgreSQL competition as risks to a quick recovery.

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Stifel reiterated its Buy rating on MongoDB ($MDB) and kept its $465 price target after the stock's sharp selloff on news that CEO CJ Desai is leaving for Meta. The firm sees limited near-term downside but expects a slower recovery.

Rating	Price target	Price in note	Implied upside
Buy	$465	$339.48	+36.97%

Friday's close was $410.44. Upside is calculated from the price shown in Stifel's note.

Leadership: Dev Ittycheria has returned as interim CEO while the board searches for a permanent replacement.

Guidance: MongoDB reaffirmed its third-quarter fiscal 2027 guidance, according to the note.

Recovery risks: Stifel said the leadership transition and growing PostgreSQL adoption among coding agents could delay a recovery.

Events ahead: MongoDB's analyst day is scheduled for tomorrow, and its New York user conference for later this week, per the note.

Context. The $465 target isn't new. Stifel trimmed it from $475 in early September after second-quarter results, when Atlas growth held at about 29% for a fifth straight quarter but fell short of some investors' hopes for acceleration. Reiterating it now signals Stifel doesn't see the CEO change as a reason to cut its view of the business.

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