Reported about 18 hours ago
Shares of MongoDB soared 17.7% this week following an impressive fiscal first-quarter earnings report that surpassed analyst expectations. The company reported a revenue increase of 22% to $549 million, driven by robust growth in MongoDB Atlas. Management highlighted the highest net customer additions in over six years, indicating a growing trust among AI developers in their platform. With increased full-year revenue guidance and a solid cash position, MongoDB appears poised to take advantage of the ongoing AI revolution, though analysts suggest investors should consider other stocks as better options.
Source: YAHOO