What's Going On With MongoDB Shares Friday?

Dylan Berman

August 30, 2024

MongoDB, Inc. (NASDAQ:MDB) stock is moving higher Friday after the company reported better-than-expected 2025 fiscal year second quarter earnings.

What Happened: MongoDB reported earnings after the market closed on Thursday, including adjusted EPS of 70 cents, beating analysts estimate of 49 cents.

Revenue: The company reported revenue of $478.1 million, beating analysts estimate of $464.04 million. The company’s subscription revenue of $463.8 million, a 13% increase year-over-year, and services revenue of $14.3 million, a 1% decrease year-over-year .

“MongoDB delivered healthy second quarter results, highlighted by strong new workload acquisition and better-than-expected Atlas consumption trends. Our continued success in winning new workloads demonstrates the critical role MongoDB’s platform plays in modern application development,” said Dev Ittycheria, president and CEO of MongoDB.

Guidance: The company also issued guidance for the third quarter and the fiscal year.

Q3: The company sees revenue between $493 million and $497 million versus analyst estimates of $478.75 million. Also, MongoDB expects adjusted EPS between 65 cents and 68 cents versus analysts estimate of 60 cents.
FY25: The company expects adjusted EPS of $2.33 to $2.47 versus analysts estimate of $2.26 and revenue between $1.92 billion and $1.93 billion versus analysts estimate of $1.9 billion.

Analyst Changes: Following the earnings report, multiple analysts issued price target adjustments.

Piper Sandler analyst Brent Bracelin maintained a Overweight rating on MongoDB and raised the price target from $300 to $335.
B of A Securities analyst Bradley Sills maintained a Buy rating on MongoDB and raised the price target from $300 to $350.
Morgan Stanley analyst Sanjit Singh maintained a Overweight rating on MongoDB and raised the price target from $320 to $340.
Mizuho analyst Matthew Broome maintained a Neutral rating on MongoDB and raised the price target from $250 to $275.
Oppenheimer analyst Ittai Kidron maintained a Outperform rating on MongoDB and raised the price target from $300 to $350.
Truist Securities analyst Miller Jump maintained a Buy rating on MongoDB and raised the price target from $300 to $320.
Wells Fargo analyst Andrew Nowinski maintained a Overweight rating on MongoDB and raised the price target from $300 to $350.
UBS analyst Karl Keirstead maintained a Neutral rating on MongoDB and raised the price target from $250 to $275.
RBC Capital analyst Rishi Jaluria reiterated a Outperform rating on MongoDB and maintained a $350 price target.

See Also: What’s Going On With SoFi Technologies Stock?

MDB Price Action: At the time of writing, MongoDB shares are moving 16.9% higher at $287.25, according to data from Benzinga Pro.

Image: Photo: Michael Vi/Shutterstock

Recommended

The "Amazon Coin" -- To Be Bigger Than Bitcoin? - Ad

Seven Unknown AI Stocks That Could Dominate the Next Six Years - Ad

America Can't Afford a Harris Presidency - Ad

Popular

Ukrainian Drone Attack Causes Earth-Rattling Blast In Russia's Tver Region

Ukrainian drone attack on Russian arsenal triggers explosions, fire, and evacuation. US defense stocks react to reports.

Elon Musk Laughs At The Idea Of Dick Cheney Supporting Kamala Harris For President

Elon Musk humorously commented on the recent endorsement of Kamala Harris by George Bush Jr.-era former Vice President Dick Cheney.

2024 Oil Boom

2024 Oil Boom - Ad

There is a much better way to profit from oil in 2024. It's NOT oil stocks, futures, or anything you've likely heard about. In fact, one man used it build a small $1,000 investment into a $100,000 income stream over fifty years.

Jim Cramer Still Thinks 'Nvidia Could Go Lower' But Cautions Investors Against Panic Selling After DOJ Subpoena

Jim Cramer cautioned against panic selling Nvidia shares following news of a Justice Department subpoena over monopolistic practices.

The 2024 Olympics were a success for Paris but a calamity for some of its businesses

PARIS (AP) — Parisian business owners and hotel managers were promised a summer like no other. Millions of tourists would flood the French capital for the and , generating huge profits for Paris and its region.

September 23 - The Biggest Crypto Event in History

September 23 - The Biggest Crypto Event in History - Ad

According to the man who called every major market top and bottom for the last 29 years... A single event triggering on September 23rd will send the crypto market soaring. But what's more exciting... is that this event could send a small sector of the crypto market soaring 5X, 25X, and even 100X higher in just days.

Boar's Head closing Virginia plant linked to deadly listeria outbreak

Boar’s Head said Friday it’s closing the Virginia plant .

Japanese 7-Eleven convenience store chain operator turns down Couche-Tard takeover offer

TOKYO (AP) — The parent company of the Japanese 7-Eleven convenience store chain said Friday that it’s turning down a takeover offer from Alimentation Couche-Tard Inc. of Canada.

Exposed: Democrats' Secret Plan to Keep Trump Out of the White House

Exposed: Democrats' Secret Plan to Keep Trump Out of the White House - Ad

Former advisor to the CIA, the Pentagon and the White House Jim Rickards just released this shocking new video exposing Democrats' secret plan to keep Trump out of the White House... Even if he wins the election. See the details and learn how to prepare... Because this could trigger the biggest constitutional crisis in our nation's history.

Treasury recovers $1.3 billion in unpaid taxes from high wealth tax dodgers

WASHINGTON (AP) — The IRS has collected $1.3 billion from since last fall, the agency announced Friday, crediting spending that has ramped up collection enforcement through President Joe Biden's signature signed into law in 2022.

iPhone 16 Pro Vs. iPhone 15 Pro: Should You Upgrade To Apple's Latest iPhone?

The iPhone 16 Pro offers notable upgrades in display size, processing power, camera capabilities, and battery life over the iPhone 15 Pro, but the improvements may not be significant enough to justify an upgrade for all users unless these specific features are essential to them.

New "Living Missile" to Replace Nuclear Missiles

New "Living Missile" to Replace Nuclear Missiles - Ad

CBS News Reports: "It's an entirely new type of weapon." The New York Times Reports: "No existing defense can stop it." And one small company is building them for the Pentagon!

DHL sues MyPillow, alleging company founded by Mike Lindell owes $800,000

MINNEAPOLIS (AP) — Package is suing MyPillow, alleging the company synonymous with its founder, chief pitchman and election denier Mike Lindell owes nearly $800,000 for unpaid bills.

Utility ordered to pay $100 million for its role in Ohio bribery scheme

An energy company at the center of a $60 million bribery scheme in Ohio has been ordered by the U.S. Securities and Exchange Commission to pay a $100 million civil penalty for misleading investors about its role in the scandal.

The Last Time Gold Flashed This Warning Sign, the Market Dropped 80%

The Last Time Gold Flashed This Warning Sign, the Market Dropped 80% - Ad

Both President Trump and Elon Musk are warning about something that could send the market down 50%, real estate down 40% and savings accounts down 30%.

Australian police infiltrate encrypted messaging app Ghost and arrest dozens

MELBOURNE, Australia (AP) — Australian police said Wednesday they have infiltrated , an encrypted global communications app developed for criminals, leading to dozens of arrests.

Mother Sells Taylor Swift Tickets Over Star's Endorsement Of Kamala Harris: 'I'm Gonna Shake It Off, And I'm Done With You'

A mother has chosen to sell the Taylor Swift concert tickets she had bought as a birthday present for her daughter in response to the pop star's recent endorsement of Kamala Harris.

Don't Tell ANYONE About This Altcoin (Until It Pops)...

Don't Tell ANYONE About This Altcoin (Until It Pops)... - Ad

Quiet now! This governance token could be the sleeping giant of the crypto world... In the next bull market, this "DeFi 2.0" powerhouse might soar 10x... 50x... perhaps even 100x.

Russian President Says Ukraine's Use Of Long-Range Missiles Would Signal That US And NATO 'Are At War With Russia'

Russia, the world's largest nuclear power, is currently revising its nuclear doctrine and considering curbs on major commodity exports.

E. Jean Carroll Case: Appeals Court Skeptical of Trump's Bid to Overturn Sexual Abuse Verdict

E. Jean Carroll's case sees an appeals court skeptical of Donald Trump's bid to overturn a $5 million verdict for sexual abuse and defamation.

4 Cryptos Set to Outperform Bitcoin in 2024

4 Cryptos Set to Outperform Bitcoin in 2024 - Ad

Chris Rowe, the man who spotted 44 different coins that have returned over 100%, is now making the biggest crypto call of his ENTIRE career.... Because a powerful crypto event will trigger on June 24th... Sending hundreds of tiny cryptos soaring 5X, 50X, even 100X -- in just days.

Elon Musk's Starlink Bows To Brazil's Top Court, Blocks Access To X In The Country: 'We Continue To Pursue All Legal Avenues...'

Elon Musk's Starlink has decided to comply with a Brazilian court order to block access to social media platform X in Brazil, reversing its previous stance despite claiming the freezing of its assets was "illegal."

Bill Ackman And Elon Musk Blast Kamala Harris For Her Social Media Posts During Debate With Trump: 'Even Her Tweets Are Not Her Own'

Recent comments by prominent figures have sparked debate over Vice President Kamala Harris's social media activity and public engagement. Bill Ackman, CEO of Pershing Square Capital Management, raised questions about Harris's involvement in her own X posts during the recent Republican primary debate.

Man Who Predicted Trump Win Issues Shocking New Election Prediction

Man Who Predicted Trump Win Issues Shocking New Election Prediction - Ad

In 2016, surveys were giving Hillary Clinton more than 99% chance of winning right up until election night. But right before the election... Former advisor to the CIA, Jim Rickards predicted Trump would win. You won't believe what he's predicting now. And it could have huge implications for the financial markets.

China's economy softens in August as Beijing continues to grapple with lagging demand

BEIJING (AP) — China’s economy softened in August, extending a slowdown in industrial activity and real estate prices as Beijing faces pressure to ramp up spending to stimulate demand.

Postal Service insists it's ready for a flood of mail-in ballots

U.S. Postmaster General Louis DeJoy assured state election officials in a letter released Monday that he'll work with them to handle their warnings of problems with election mail delivery during the primary season, while insisting that the Postal Service will be ready for the flood of mail-in ballots ahead of the November election.

Oil Surge Predicted...But Are You Ready?

Oil Surge Predicted...But Are You Ready? - Ad

Do you own oil and gas stocks? Or are you thinking about buying some? If so, you need to see my #1 oil play for 2024. But it's NOT oil stocks, futures, or anything you've likely heard about. Rather, it's an unusual way to potentially bank monthly income from the oil and gas markets.

Clarivate Partners With Libraries To Unveil AI Research Assistant, Boosting Academic Integrity And Discovery

Clarivate launched Primo Research Assistant, which is a new generative AI-powered library discovery solution. Primo Research Assistant, part of the Primo Discovery solution, uses a Retrieval Augmented Generation (RAG) architecture and the Ex Libris Central Discovery Index (CDI), which holds over 5 billion records from numerous sources.

Scaramucci: Trump Wins Billionaires' Support Despite Coming Off As 'Raging Lunatic,' Harris Backs A 'Ridiculously Stupid Idea'

Trump is someone who can't keep to his messaging and his rival Kamala Harris can gain an upper hand by going on offensive, says Scaramucci.

Red-Hot AI Stock "Disappearing" Soon? (Get In Now)

Red-Hot AI Stock "Disappearing" Soon? (Get In Now) - Ad

Right now, there's an AI stock on the verge of being snapped up by a giant company... And when it does, its price could go flying. The potential gains could be astronomical. You want to get in before that happens... Otherwise the opportunity could pass you by. Your window to buy in is right now...

Cryptocurrency Pepe Up More Than 3% In 24 hours

Over the past 24 hours, Pepe's (CRYPTO: PEPE) price has risen 3.08% to $0.0000076. This is contrary to its negative trend over the past week where it has experienced a 17.0% loss, moving from $0.0000089 to its current price.

Hedge fund Elliott Investment Management steps up pressure on Southwest Airlines' management

DALLAS (AP) — Elliott Investment Management, a hedge fund urging Southwest Airlines to and chairman, said Tuesday it has acquired enough of the company's stock to call a special meeting of shareholders.

Buffett's Big A.I. Secret (Handle With Care)

Buffett's Big A.I. Secret (Handle With Care) - Ad

A.I. is the talk of the town...But here's what they're NOT telling you. Former investment banking V.P. Ross Givens is letting the cat out of the bag. He's leaking a revolutionary new development, which changes everything. It will kick off A.I.'s massive second wave.

Why Final Fantasy 16, 7 Rebirth Didn't Hit Profit Targets, According To Square Enix

Square Enix admits Final Fantasy 16 and Final Fantasy 7 Rebirth underperformed, prompting a shift to multi-platform releases.

After Starship Test Flight Is Pushed Back To November, SpaceX Says It 'Takes Longer' To Do Paperwork 'Than It Does To Design And Build' The Rocket: Elon Musk Says 'We Will Never Get Humanity To Mars If This Continues'

After Starship Test Flight Is Pushed Back To November, SpaceX Says It 'Takes Longer' To Do Paperwork 'Than It Does To Design And Build' The Rocket: Elon Musk Says 'We Will Never Get Humanity To Mars If This Continues'

Elon Musk's spacecraft manufacturing company SpaceX on Tuesday pinned regulatory red tape as the cause for delays in the development of its ambitious Starship launch vehicle whose fifth flight test is now expected in late November.

Forget AI, Imperium Is Expected to Grow 320,000% In 3 Years

Forget AI, Imperium Is Expected to Grow 320,000% In 3 Years - Ad

Three of the world's biggest AI companies -- Google, Nvidia and Intel -- have even partnered with my No. 1 Imperium company to get on this massive mega trend. The average investor hasn't caught on yet, but you can still invest in my No. 1 Imperium company for just $10 a share.

Trump's Campaign Slapped With Lawsuit Threat After Jack White Calls Them 'Fascists'- 'You Should Lose Every Military Family's Vote Immediately!'

Jack White of the White Stripes has condemned Donald Trump's campaign as "fascists" and threatened legal action after an aide used a clip of the band's 2003 hit "Seven Nation Army" in a pro-Trump social media post.

Jerome Powell-Led Investigation Finds Atlanta Fed President Raphael Bostic Breached FOMC Rules, Created 'Conflict Of Interest' Over Securities Trading Violations

Raphael Bostic, president of the Federal Reserve Bank of Atlanta, breached Federal Open Market Committee rules and Reserve Bank policies, according to a report by the central bank's Office of Inspector General.

This $2 Stock Outshines Historic Gold Rally!

This $2 Stock Outshines Historic Gold Rally! - Ad

Gold has soared 25% in the last 6 months, but this young company has more than doubled that return. With a price target nearly double its current value, it's caught the eye of 40+ investment banks and funds. Discover the name of this standout company today and see why it's a potential gold mine for investors.

Young girls are using anti-aging products they see on social media. The harm is more than skin deep

SACRAMENTO, Calif. (AP) — When she was in fifth grade, Scarlett Goddard Strahan started to worry about getting wrinkles.

Trending Now

Trump Vs. Harris: Election Forecaster With 9 Out Of 10 Accurate Predictions Makes Final Call, Says This Person Will Be 'Next President Of The United States'