After a lackluster start to 2023, Wall Street finally started paying attention to MongoDB's (NASDAQ: MDB) growth potential over the last month. That is, of course, after management presented first-quarter fiscal 2024 results showing good revenue growth and optimism about the business environment and raised fiscal 2024 guidance. The stock popped 28% higher on the news.

The question you might have as an investor is whether you can still invest in MongoDB stock after its huge run-up or whether you missed the rally. Let's discuss this.

MongoDB's stock trades at a price-to-sales (P/S) ratio of 19.24 and a forward P/S ratio of 17.31, which is very high compared to many other high-growth cloud companies. (As seen in the chart below.)

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Source Fool.com