MongoDB (MDB) Should See Strong Volumes and a Bump in Profitability - Needham

Needham & Company analyst Jack Andrews reiterated a Buy rating and $189.00 price target on MongoDB (NASDAQ: MDB) ahead of 4QFY20 results after the market close on Tuesday, March 17th. The analyst is modeling 4QFY20 revenue of $111.1 million, slightly above the consensus of $110.6 million. Profit should also get a boost from Auto Scaling reducing operating costs due to the large number of small developers trialing Atlas.

In addition to the expected bump in profitability, analyst also expects to see volume increase, stating "To gauge the overall "ground level" interest we scraped StackOverflow and built a proprietary database of activity. We note an increase of 35.0% YoY for 4QFY20 and 17.6% for the TTM, which represents the biggest increase in 4.5 years. We believe databases are developer-led and activity could be indicative of long-term health".

For an analyst ratings summary and ratings history on MongoDB click here. For more ratings news on MongoDB click here.

Shares of MongoDB closed at $115.17 yesterday.

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