Database platform company MongoDB (NASDAQ: MDB) will be announcing earnings results this Thursday afternoon. Here’s what you need to know.
MongoDB beat analysts’ revenue expectations last quarter, reporting revenues of $695.1 million, up 26.7% year on year. It was a satisfactory quarter for the company, with a solid beat of analysts’ billings estimates but EPS guidance for next quarter missing analysts’ expectations. It added 105 enterprise customers paying more than $100,000 annually to reach a total of 2,799.
Is MongoDB a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting MongoDB’s revenue to grow 21% year on year, in line with the 21.9% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. MongoDB has a history of exceeding Wall Street’s expectations.
Looking at MongoDB’s peers in the data and analytics software segment, some have already reported their Q1 results, giving us a hint as to what we can expect. DigitalOcean delivered year-on-year revenue growth of 22.4%, beating analysts’ expectations by 3.3%, and Commvault reported revenues up 13.3%, topping estimates by 1.6%. DigitalOcean traded up 48% following the results while Commvault was also up 14.4%.
Read our full analysis of DigitalOcean’s results here and Commvault’s results here.
There has been positive sentiment among investors in the data and analytics software segment, with share prices up 10.1% on average over the last month. MongoDB is up 16.3% during the same time and is heading into earnings with an average analyst price target of $362.24 (compared to the current share price of $307.50).
ONE MORE THING: The $21 AI Application Stock Wall Street Forgot. While Wall Street obsesses over who’s building AI, one company is already using it to print money. And nobody’s paying attention.
AI chip stocks trade at ridiculous valuations. This company processes a trillion consumer signals monthly using AI and trades at a third of the price. The gap won’t last. The institutions will figure it out. You need to see this first. Read the FREE Report Before They Notice.
