MongoDB (MDB) Stock: Screaming For The Top On Earnings

MongoDB Inc (NASDAQ: MDB) is making its way for the top in the trading session this morning, and for good reason. The comapny announced its financial results, beating expectations for the fourth consecutive quarter.

Of course, the news excited investors, sending the stock screaming for the top. Today, we’ll talk about:

  • The financial report;
  • what we’re seeing from MDB stock as a result; and
  • what we’ll be watching for ahead.

MDB Announces Financial Results

As mentioned above, MongoDB is making a run for the top in the trading session this morning after announcing its financial results. Here’s what we saw from the report:

  • Loss – During the quarter, the company produced a loss of $0.17 per share. Not only did this beat expectations of a loss of $0.38 per share, it showed compelling year over year growth from the $0.40 per share loss reported a year ago.
  • Revenue – In terms of revenue, the company said that it brought in $85.48 million. That figure not only beat estimates in a big way, it showed strong growth over the $45.04 million reported one year ago.

It’s also worth mentioning that the company consistently beats expectations. In fact, it beat earnings estimates for the past four consecutive quarters.

In a statement, Dev Ittycheria, President and CEO at MDB, had the following to offer:

MongoDB’s exceptional fourth quarter performance capped a record year for the company. MongoDB is being adopted by an ever increasing number of companies across diverse industries who recognize the power of our next-generation database platform to drive business performance, increase agility and shorten time to market.

MongoDB Atlas, our fully managed global, multi-cloud database service, achieved a major milestone in the fourth quarter, surpassing $100 million in annualized revenue run rate less than three years from launch. At approximately one third of our revenue, MongoDB Atlas’ tremendous growth highlights its compelling value to enable customers to focus on innovation and offload the operational burden of database management.

What We’re Seeing From The Stock 

One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to MongoDB, the news proved to be overwhelmingly positive.

After all, earnings reports are the most updated financial data that investors get, and this one proved to be overwhelmingly positive. Not only did the company beat earnings expectations, revenue proved to be positive as well.

Considering this, it’s not surprising to see that excited investors are pushing the stock for the top. As is normally the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (11:08), MDB is trading at $129.97 per share after a gain of $25.71 per share or 24.66% thus far today.

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What We’ll Be Watching For Ahead

Moving forward, the CNA Finance team will continue to keep a close eye on MDB. In particular, we’re interested in following the continued customer adoption of their database technology and excited to see the growth ahead. Nonetheless, we’ll keep a close eye on the news and bring it to you as it breaks!

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