5 Biggest Losers on Thursday

3. MongoDB, Inc. (NASDAQ:MDB)

Number of Hedge Fund Holders: 55

Shares of MongoDB, Inc. (NASDAQ:MDB) fell over 15 percent before the opening bell today after the software firm projected an adjusted loss in the range of 28 – 35 cents per share for the full year.

The updated forecast was worse than its earlier guidance calling for an adjusted loss of 16 – 31 cents per share. It was also wider than analysts’ average estimate for a loss of 21 cents.

MongoDB, Inc. (NASDAQ:MDB) issued the outlook along with its fiscal Q2 results. The company reported an adjusted loss of 23 cents per share on revenue of $303.7 million for the quarter. Analysts were looking for a loss of 28 cents per share on revenue of $284.4 million.

Discussing the results, CEO of MongoDB, Inc. (NASDAQ:MDB), Dev Ittycheria, said:

“We are seeing robust growth in new workloads being deployed on our platform, which is indicative of the critical role we play in enabling customers to build and run mission critical applications that transform their business.”