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On October 16, 2024, MongoDB issued a redemption notice to the note holders, stating its intention to redeem the notes in full on December 16, 2024. During the conversion period, which lasted until December 13, 2024, holders of approximately $1,150 million in aggregate principal amount of the notes opted to convert their holdings. In return, MongoDB issued 5,662,979 shares of its common stock, along with cash for fractional shares, under the exemption from registration provided by Section 3(a)(9) of the Securities Act of 1933.

The remaining notes, totaling $349,000 in aggregate principal, were redeemed on the specified date at a price of approximately $349,366, which included accrued and unpaid interest.

This transaction aligns with MongoDB’s financial strategies and provides note holders with an opportunity to convert their debt holdings into equity in the company. MongoDB’s common stock is listed on the Nasdaq Global Market under the ticker symbol NASDAQ:MDB.

In other recent news, MongoDB has been the subject of several analyst upgrades and downgrades. Tigress Financial Partners maintained a Buy rating, raising its price target to $430.00, backed by MongoDB’s scalable architecture and business performance trends.

The company’s strategic initiatives and the adoption of its Atlas (NYSE:ATCO) DBaaS platform were key factors in this decision. In contrast, Monness, Crespi, Hardt downgraded MongoDB’s shares to Sell, citing a slowdown in growth for MongoDB Atlas and the recent resignation of the CFO. Macquarie initiated coverage on MongoDB with a Neutral rating and a price target of $300, acknowledging the company’s appeal among developers, particularly for AI applications.

The third quarter of 2025 saw MongoDB report a 22% year-over-year increase in revenue, reaching $529.4 million. This growth was consistent across its subscription revenue, which also rose by 22% to $512.2 million, and its services revenue, which saw an 18% increase to $17.2 million. MongoDB recently announced the release of MongoDB 8.0, featuring 45 architectural improvements expected to bring performance enhancements, cost reductions, and additional scalability, resilience, and data security features.

Truist Securities increased MongoDB’s price target to $400, maintaining a Buy rating, and lauding the company’s impressive performance largely fueled by the sustained growth of the Enterprise Advanced business. Canaccord Genuity maintained a Buy rating on MongoDB and increased the price target to $385, highlighting the company’s promising position in the AI value chain.

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