Piper Sandler Reiterates Overweight on MongoDB, Raises Price Target to $470

MongoDB Director Hope Cochran Sells 1,000 Shares

MongoDB Director Hope Cochran sold 1,000 shares worth $375,920 on September 17, 2026, through a pre-arranged Rule 10b5-1 trading plan. The director retains 28,326 shares valued at approximately $11.14 million. The sale should not concern investors as it was executed under a standard insider trading plan for personal financial planning, and MongoDB's revenue growth has accelerated to 30.5% year-over-year.

Shares of IT Services companies are trading higher. The sector may be rallying in response to AI executives from firms including Anthropic, OpenAI and SpaceXAI signaling that the industry's growth may have to be slowed, which may limit threats to IT Service vendors.

Stock Market Today: Nasdaq 100 Tumbles as Oil Spikes 6%, Yields Hit 19-Year High

Crude jumped 6% and 30-year Treasury yields hit levels last seen in 2007 as a hot PPI print pushed Fed rate-hike odds toward 70% ahead of Friday's CPI.

Breakfast News: Week in Review

Nvidia agreed to acquire Hugging Face for $13 billion in a defensive move as customers develop competing chips, while MongoDB beat earnings expectations but fell 15% due to slower Q3 guidance. Token prices hit record lows, pressuring AI companies' business models. Uber cut 10% of workforce while lobbying against robotaxi regulations, and the Fed signals potential rate hold, impacting expensive AI stocks.