markets

Hyunsoo Rim3/3/26

MongoDB plunges on weak Q1 guidance, despite fourth-quarter earnings beat

MongoDB is down more than 27% in premarket trading Tuesday, extending its sharp after-hours decline yesterday, after the database software company forecast lower-than-expected Q1 earnings and full-year revenue.

The company actually beat estimates for the fourth quarter (ended January 31), in which revenue rose 27% year on year to $695.1 million, and adjusted earnings came in at $1.65 per share — ahead of Wall Street estimates of $670 million and $1.48 per share, respectively. In the earnings release, CEO CJ Desai said results were driven by “continued go-to-market execution and the broad-based demand we are seeing across our product lines.”

Yet the company’s outlook for Q1 has disappointed investors, with adjusted earnings per share of $1.15 to $1.19 below analyst estimates of $1.20. Its revenue forecast, meanwhile, sits at $659 million to $664 million, the midpoint of which fell below the $662 million that had been penciled in. Full-year revenue guidance of $2.86 billion to $2.9 billion also fell slightly below consensus estimates, though EPS guidance of $5.75 to $5.93 came in ahead of the $5.69 forecast.

Alongside its earnings report, MongoDB announced a leadership overhaul, including the departure of its president of field operations, Cedric Pech, and its chief revenue officer, Paul Capombassis. The company also announced the appointment of Erica Volini as the new chief customer officer.

MongoDB’s “NoSQL database” is considered a more flexible, modern format than traditional table-based databases, allowing developers to store data more easily. But with fears growing that established software companies may lose their edge to rising agentic AI, MongoDB’s shares had already fallen roughly 23% this year before this morning’s slide — and are now down about 44% year to date.

Alongside its earnings report, MongoDB announced a leadership overhaul, including the departure of its president of field operations, Cedric Pech, and its chief revenue officer, Paul Capombassis. The company also announced the appointment of Erica Volini as the new chief customer officer.

MongoDB’s “NoSQL database” is considered a more flexible, modern format than traditional table-based databases, allowing developers to store data more easily. But with fears growing that established software companies may lose their edge to rising agentic AI, MongoDB’s shares had already fallen roughly 23% this year before this morning’s slide — and are now down about 44% year to date.

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SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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