UPDATE: MongoDB (MDB) PT Raised to $480 at Morgan Stanley as Nosebleed Growth Levels Sustain
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Go back to UPDATE: MongoDB (MDB) PT Raised to $480 at Morgan Stanley as Nosebleed Growth Levels Sustain
September 3, 2021 7:00 AM EDT
Shares of MongoDB (NASDAQ: MDB) are trading 13.4% higher in pre-open Friday after the software company smashed analyst estimates for Q2.
MongoDB reported a loss of $0.24 per share, narrower than a loss of $0.39 expected from analysts. Sales for the quarter came in at $198.7 million versus the consensus estimate of $184.2 million.
"MongoDB's second quarter results were exceptionally strong across the board, highlighted by Atlas revenue growth of 83%. Our performance reflects the desire of nearly every business to use a modern application data platform that enables them to accelerate the pace of their digital innovation... More
September 3, 2021 6:20 AM EDT
Mizuho Securities analyst Matthew Broome raised the price target on MongoDB (NASDAQ: MDB) to $410.00 (from $350.00) while maintaining a Neutral rating following earnings.
The analyst commented, "MDB reported very strong F2Q earnings yesterday after the close, comfortably beating our (and the Street's) revenue... More
