Late Thursday, cloud database firm MongoDB (MDB) reported adjusted earnings of 93 cents per share on $423.8 million in second-quarter sales. In response, MDB stock surged.
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On average, analysts polled by FactSet expected MongoDB to earn 46 cents per share on $394 million in sales.
During the year-earlier period, MongoDB reported a loss of 23 cents per share and $304 million in sales.
For the year, the company guided to adjusted profit of $2.27 to $2.35 per share and $1.596 billion to $1.608 billion in sales. MDB stock analysts called for adjusted profit of $1.59 a share on $1.56 billion in sales.
In after-hours trading on today’s stock market, MongoDB stock 8.6% near 414. MongoDB is a Tech Leader whose stock is consolidating with a buy point at 439, according to MarketSmith.com.
Shares have a strong Relative Strength Rating of 97, putting MDB stock in the top 3% of all stocks when it comes to 12-month performance. MongoDB stock also has a nearly perfect IBD Digital Composite Rating of 98 on a 1-99 scale of fundamental and technical measures.
MDB stock has nearly doubled this year, rising almost 91% through Wednesday’s close.
More to follow.
Follow Allison Gatlin on X, the platform formerly known as Twitter, at @IBD_AGatlin.
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