Why MongoDB Rose 12.8% Last Week

Shares of document database company MongoDB (NASDAQ: MDB) surged 12.8% over the past week, after the company reported strong third-quarter earnings on Monday, December 6.

Like other high-growth tech stocks, MongoDB had sold off over the prior month heading into earnings. However, MongoDB looks to be one of the few high-growth software companies reporting strong enough results to mitigate concerns over higher interest rates.

At a time when many SaaS companies find themselves 20%, 40%, or even more than 60% below their all-time highs, MongoDB has been a relative winner, as the stock is only 14% below all-time highs after this week's surge.

Source Fool.com