MongoDB Stock Down Over 25% After Guidance Whiff

Another software stock is suffering from a sharp correction. MongoDB Inc (NASDAQ:MDB) is down 25% to trade at $236.42 today, after the software-as-a-service (SaaS) company's first-quarter profit forecast came in below estimates. The whiffed guidance is overshadowing an adjusted fourth-quarter earnings and revenue beat. The report is also dragging peers Okta (OKTA) and Snowflake (SNOW), which are off 3% and 4.7% respectively, at last glance.No fewer than 18 analysts have issued price-target cuts in response, ...