Why MongoDB Shares Jumped as Much as 10.5% This Morning, Just for a While
Shares of MongoDB (NASDAQ: MDB), a specialist in nontraditional database software, rose as much as 10.5% on Tuesday morning, following the release of strong third-quarter results. The gains didn't last long, though. By 12:50 p.m. EST, the stock had lost the entire gain, and was trading at Monday's closing price again.
In the third quarter of fiscal year 2020, MongoDB's sales rose 68% year over year to $109.4 million. On the bottom line, adjusted net losses shrank from $0.30 to $0.26 per share. The analyst consensus pointed to a net loss of $0.28 per share on revenues near $99.8 million. Management also issued full-year guidance above the current analyst view.
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Source Fool.com
