How MongoDB Stock Gained 28.9% Last Month
Shares of MongoDB (NASDAQ: MDB) rose by 28.9% in December 2022, according to data from S&P Global Market Intelligence. The developer of next-generation database management systems shocked Wall Street with fantastic third-quarter results early in the month, and as of early January, the stock has held onto a large portion of the gains that followed that report.
MongoDB reported its Q3 results on Dec. 6. Its top line rose by 47% year over year to $334 million, beating the analysts' consensus estimate by 10%. On the bottom line, the average analyst expected a net loss of $0.17 per share, but MongoDB delivered an adjusted net profit of $0.23 per share instead. Management also set bullish guidance targets for the fourth quarter.
Investors quickly embraced these fantastic results, and MongoDB's stock rose 23.2% that day alone. A couple of smaller bumps followed as analysts published their analyses of MongoDB's results and prospects.
Source Fool.com
