🔮 Better than the Oracle? Our Fair Value found this +42% bagger 5 months before Buffett bought itRead More

MongoDB shares fall on cybersecurity incident

Published 12/18/2023, 03:30 PM
Updated 12/18/2023, 03:34 PM
© Reuters.  MongoDB shares fall on cybersecurity incident

MongoDB (NASDAQ:MDB) shares experienced a more than 3% drop intra-day today following the company's announcement of a security incident on Saturday. The incident was initially detected on the evening of Dec 13, and MongoDB promptly initiated its incident response process.

They disclosed in an email to users and on their website that this unauthorized access might have been going on for some time before its discovery. MongoDB assured that, as of now, there is no known exposure to the customer data stored in MongoDB Atlas. The company noted that the incident did involve exposure to customer account metadata and contact information.

Analysts responded to the incident, highlighting MongoDB's proactive approach in notifying customers and users about the details of the data breach, such as which systems were accessed and providing actionable steps for enhanced security, like activating multi-factor authentication. This response, according to analysts, reflects MongoDB's commitment to responsible communication in the aftermath of an attack.

While awaiting further updates from MongoDB to disclose the full extent of the breach, analysts maintain their Outperform rating and a target price of $490 for MongoDB's shares.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.