Why MongoDB Stock Soared 24.5% in January

Shares of MongoDB (NASDAQ: MDB) climbed 24.5% in January, according to data from S&P Global Market Intelligence, as multiple analysts weighed in with positive notes on the database software leader.

For perspective, MongoDB only just fell 11.5% in December, giving up its initial post-earnings gains even after the company's third-quarter results handily exceeded Wall Street's expectations. Perhaps it should have come as no surprise, then, when Piper Sandler analyst Brent Bracelin singled out MongoDB on Jan. 8 as one of his top software-as-a-service (SaaS) stock ideas with "multibillion potential" for the coming decade.

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Source Fool.com