Marketdash
Back to News

MongoDB Shares Surge 25% as Earnings Beat Sparks Analyst Price Target Parade

MarketDash Editorial Team
6 days ago
MongoDB crushed third-quarter expectations and raised its full-year outlook, sending shares soaring over 24% as analysts scrambled to lift their price targets on the database company.

MongoDB Inc. (MDB) delivered the kind of earnings report that makes analysts reach for their calculators to revise their models upward. Shares rocketed over 24% Tuesday after the database company didn't just beat expectations—it demolished them.

The Numbers That Matter: MongoDB posted third-quarter revenue of $628.31 million, up 19% year-over-year and comfortably ahead of the $591.52 million analysts were expecting. But the real surprise came on the bottom line, where adjusted earnings hit $1.32 per share versus the 80-cent consensus. That's not a beat, that's a blowout.

The company added 2,600 new customers during the quarter, pushing its total customer base past 62,500. Subscription revenue climbed 19%, services revenue rose 12%, and free cash flow came in at $140.1 million. MongoDB ended the quarter sitting on $2.3 billion in cash and short-term investments, giving it plenty of dry powder.

"MongoDB delivered strong third quarter results that exceeded the high-end of our guidance driven by continued strength in Atlas, which saw growth accelerate to 30% year-over-year. We also delivered meaningful margin outperformance as we executed on our plan to drive profitable growth," said CJ Desai, president and CEO of MongoDB.

Looking Ahead: The forward guidance is where things get really interesting. For the fourth quarter, MongoDB expects revenue between $665 million and $670 million—well above the $625.12 million consensus—with adjusted earnings of $1.44 to $1.88 per share versus the 93-cent estimate.

The company also bumped up its full-year outlook significantly. Revenue guidance now sits at $2.43 billion to $2.44 billion, up from the previous range of $2.34 billion to $2.36 billion. Full-year adjusted earnings jumped to $4.76 to $4.80 per share from $3.64 to $3.73 per share. Analysts had been modeling $2.36 billion in revenue and $3.71 per share in earnings for the year.

Wall Street Weighs In: The analyst community responded with enthusiasm, maintaining bullish ratings while lifting price targets across the board. Cantor Fitzgerald kept its Overweight rating and raised its target from $406 to $454. RBC Capital stuck with Outperform and moved its target from $405 to $450. BofA Securities maintained its Buy rating and hiked the target from $440 to $480.

Bernstein held its Outperform rating while bumping the price target from $338 to $452—a substantial jump. Wells Fargo kept its Overweight rating and raised the target from $430 to $450, while DA Davidson maintained its Buy rating and lifted the target from $415 to $465.

Price Action: MongoDB shares traded up 24.86% at $410.62 on Tuesday.

Back to News

MongoDB Shares Surge 25% as Earnings Beat Sparks Analyst Price Target Parade

MarketDash Editorial Team
6 days ago
MongoDB crushed third-quarter expectations and raised its full-year outlook, sending shares soaring over 24% as analysts scrambled to lift their price targets on the database company.

MongoDB Inc. (MDB) delivered the kind of earnings report that makes analysts reach for their calculators to revise their models upward. Shares rocketed over 24% Tuesday after the database company didn't just beat expectations—it demolished them.

The Numbers That Matter: MongoDB posted third-quarter revenue of $628.31 million, up 19% year-over-year and comfortably ahead of the $591.52 million analysts were expecting. But the real surprise came on the bottom line, where adjusted earnings hit $1.32 per share versus the 80-cent consensus. That's not a beat, that's a blowout.

The company added 2,600 new customers during the quarter, pushing its total customer base past 62,500. Subscription revenue climbed 19%, services revenue rose 12%, and free cash flow came in at $140.1 million. MongoDB ended the quarter sitting on $2.3 billion in cash and short-term investments, giving it plenty of dry powder.

"MongoDB delivered strong third quarter results that exceeded the high-end of our guidance driven by continued strength in Atlas, which saw growth accelerate to 30% year-over-year. We also delivered meaningful margin outperformance as we executed on our plan to drive profitable growth," said CJ Desai, president and CEO of MongoDB.

Looking Ahead: The forward guidance is where things get really interesting. For the fourth quarter, MongoDB expects revenue between $665 million and $670 million—well above the $625.12 million consensus—with adjusted earnings of $1.44 to $1.88 per share versus the 93-cent estimate.

The company also bumped up its full-year outlook significantly. Revenue guidance now sits at $2.43 billion to $2.44 billion, up from the previous range of $2.34 billion to $2.36 billion. Full-year adjusted earnings jumped to $4.76 to $4.80 per share from $3.64 to $3.73 per share. Analysts had been modeling $2.36 billion in revenue and $3.71 per share in earnings for the year.

Wall Street Weighs In: The analyst community responded with enthusiasm, maintaining bullish ratings while lifting price targets across the board. Cantor Fitzgerald kept its Overweight rating and raised its target from $406 to $454. RBC Capital stuck with Outperform and moved its target from $405 to $450. BofA Securities maintained its Buy rating and hiked the target from $440 to $480.

Bernstein held its Outperform rating while bumping the price target from $338 to $452—a substantial jump. Wells Fargo kept its Overweight rating and raised the target from $430 to $450, while DA Davidson maintained its Buy rating and lifted the target from $415 to $465.

Price Action: MongoDB shares traded up 24.86% at $410.62 on Tuesday.

    MongoDB Shares Surge 25% as Earnings Beat Sparks Analyst Price Target Parade - MarketDash News