BUZZ–MongoDB shares rise due to $1.1 billions buyback plan

September 30 - ** Database software company MongoDB (stock code: MDB.O) shares rose 5.8% to $356.8

** The company authorized an additional $1 billion stock repurchase, bringing the authorized total to $2 billion—according to documents filed with the U.S. Securities and Exchange Commission (SEC)

** Out of this $2 billion, $1.35 billion is still available for future stock repurchases

** On Monday, after the company announced a CEO change (link), shares plummeted 18.3%

** Among 43 brokerages, 35 rate the stock as "Buy" or higher, 8 as "Hold"; the median target price is $470

** Including today's price movement, MDB is down 15.4% year-to-date

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