Why MongoDB Stock Is Falling Again
Shares of database software maker MongoDB (NASDAQ: MDB) are falling again on Friday. The stock dipped as much as 9.3% lower in the morning before recovering to a 7.5% drop at noon EDT. The stock has now fallen 16% in two days following MongoDB's fantastic second-quarter earnings report.
MongoDB's stock fell hard on Thursday despite a great earnings report. Sales rose 39% year over year to $138 million and net losses improved from $0.26 to $0.22 per share. Your average analyst would have settled for a net loss of $0.39 per share on revenue near $127 million. Guidance for the third quarter also left the current Street view far behind. Analyst firms showered the stock in upgrades and raised price targets after the report but the stock fell anyway.
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Source Fool.com
