Is MongoDB Stock a Buy After Crushing Earnings?

Like many growth stocks, MongoDB's (NASDAQ: MDB) shares have been hit hard this year. Fears of inflation -- and the uncertain effectiveness of the Federal Reserve's moves to tame it -- have made investors less willing to pay a premium for rapidly expanding businesses. That led to a brutal marketwide sell-off, and MongoDB's stock was caught up in the carnage.

But after shedding nearly 60% of its value by late last month, the software company's stock price has rebounded sharply in recent days. Is this a sign it's a good time to buy this beaten-down tech stock?

MongoDB's shares surged on Thursday after the database software leader delivered a surprise profit in its fiscal 2023 first quarter, which ended on April 30.

Source Fool.com