Why MongoDB Stock Exploded Higher on Friday
Shares of MongoDB (NASDAQ: MDB) charged sharply higher Friday, surging as much as 35.4%. As of 10:57 a.m. ET, the stock was up 30.7%.
The catalyst that drove the database-as-a-service provider higher was its quarterly financial results, which soared past even the most bullish expectations.
For its fiscal 2024 first quarter (ended April 30), MongoDB delivered revenue of $368.3 million, up 29% year over year, signaling to investors that the worst may have passed. At the same time, the company delivered adjusted earnings per share (EPS) of $0.56, surging 180%.
Source Fool.com
MongoDB Inc. Stock
€221.20
-0.560%
With 40 Buy predictions and 2 Sell predictions MongoDB Inc. is one of the favorites of our community.
As a result the target price of 411 € shows a very positive potential of 85.8% compared to the current price of 221.2 € for MongoDB Inc..
