New York, March 3, 2026, 12:41 ET — Trading in the regular session.
- MongoDB shares slid roughly 20% by midday, pressured by a tepid first-quarter profit forecast.
- Atlas, the company’s main cloud database, posted somewhat softer growth, catching investors’ attention.
- Friday’s U.S. jobs numbers are next on traders’ radars, a key data point for gauging rates and appetite for risk.
MongoDB plunged 20.4% to $258.63 on Tuesday, having at one point been down nearly 29% amid a volatile session. That sharp drop wiped around $7.5 billion off the database company’s market value from its previous close.
MongoDB shares sank after the company’s first-quarter profit outlook missed estimates, with growth at Atlas—its cloud database—also coming up just shy of what investors had hoped for. “Investors don’t have a lot of patience,” Barclays analysts wrote. 1
The debut came at a tough moment: software stocks have been getting hammered at the slightest sign of slowing growth, with investors locked in on the question of just how rapidly AI could upend the industry. “I don’t think the buybacks are enough,” said Peter Tuz, president of Chase Investment Counsel. For him, it’s about convincing investors that AI won’t “fundamentally hurt” the business. 2
MongoDB told analysts on Monday’s earnings call that it expects first-quarter revenue between $659 million and $664 million, setting its adjusted earnings-per-share forecast at $1.15 to $1.19. (Those adjusted, non-GAAP figures strip out items like stock-based compensation.) CFO Mike Berry pointed to a 29% jump in Atlas revenue for the quarter, noting that, if not for bundled deal accounting, “would have been approximately 30%.” 3
MongoDB’s fourth-quarter revenue jumped 27% to $695.1 million, with Atlas revenue up 29% as well. CEO CJ Desai pointed to “strong fourth quarter results,” citing broader adoption of the platform. The company also outlined changes atop its go-to-market team: Erica Volini will take over as Chief Customer Officer on March 3, while two veteran sales leaders are leaving. 4
The pain spread beyond a single name. Shares of Snowflake dropped 2.7%, Elastic edged down 0.5%. Datadog barely budged. ServiceNow, however, climbed 2.9% as software stocks moved in mixed directions.
MongoDB shares slid, caught up in a defensive pivot across Wall Street. Heightened concerns over oil and inflation, fueled by the deepening Middle East conflict, weighed on sentiment. Against that backdrop, high-valuation growth names struggled to attract buyers after weak guidance. 5
There’s another side to this: MongoDB tends to play it safe with guidance, and it’s possible a more stable pace in cloud consumption later could make these projections seem overly careful. Still, the way shares have responded underlines just how unforgiving investors are when software firms show even a hint of slowing cloud momentum or shaky visibility.
Friday brings the next big test for risk appetite: the February U.S. jobs report drops at 8:30 a.m. ET. Investors are set to parse the numbers, adjusting their rate-cut bets and appetite for growth names accordingly. 6
