Why MongoDB Popped 14.7% This Week

Shares of MongoDB (NASDAQ: MDB) popped 14.7% this week, according to S&P Global Market Intelligence. The modern cloud database platform put out a strong earnings report that beat analyst expectations, leading investors to bid up the stock. At one point, shares of MongoDB were up 16.3% this week.

On June 1, MongoDB released its Q1 results for the three months ending in April. Revenue was $285 million in the period, up 57% year over year, while adjusted earnings per share (EPS) hit $0.20. Both numbers beat analyst expectations for the quarter, causing investors to bid up the stock by 18.5% the day following the report.

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Source Fool.com