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Why MongoBD Stock Is Trading Higher Today

Published 02/06/2022, 13:30
Updated 02/06/2022, 14:11
© Reuters.  Why MongoBD Stock Is Trading Higher Today
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MongoDB Inc (NASDAQ: MDB) shares are trading higher Thursday after the company reported better-than-expected top-line results and issued guidance above analyst estimates.

MongoDB said first-quarter revenue increased 57% year-over-year to $285.45 million, which beat the estimate of $266.45 million, according to data from Benzinga Pro. The company said the strong revenue growth was primarily driven by 82% growth in Atlas, MongoDB's cloud database service.

The company reported quarterly earnings of 20 cents per share, which was up from a loss of 15 cents per share year-over-year.

MongoDB said it expects second-quarter revenue to be between $279 million and $282 million versus the estimate of $277.85 million.

Analyst Assessment:

  • Piper Sandler analyst Brent Bracelin maintained MongoDB with an Overweight rating and lowered the price target from $585 to $430.
  • Needham analyst Mike Cikos maintained MongoDB with a Buy rating and lowered the price target from $362 to $310.
  • Barclays (LON:BARC) analyst Raimo Lenschow maintained MongoDB with an Overweight rating and raised the price target from $330 to $338.
  • Oppenheimer analyst Ittai Kidron maintained MongoDB with an Outperform rating and lowered the price target from $490 to $400.
  • Credit Suisse (SIX:CSGN) analyst Phil Winslow maintained MongoDB with an Outperform rating and lowered the price target from $650 to $500.
See Also: 10 Biggest Price Target (NYSE:TGT) Changes For Thursday

MDB Price Action: MongoDB shares have traded between $213.39 and $590 over a 52-week period.

The stock was up 9.01% at $263.60 at press time.

Photo: Lalmch from Pixabay.

Latest Ratings for MDB

DateFirmActionFromTo
Mar 2022NeedhamMaintainsBuy
Mar 2022MizuhoMaintainsNeutral
Mar 2022BarclaysMaintainsOverweight
View More Analyst Ratings for MDB

View the Latest Analyst Ratings

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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