{"id":17494,"date":"2023-06-02T23:41:33","date_gmt":"2023-06-03T03:41:33","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/mongodb-stock-surges-28-for-best-day-ever-on-big-beat-forecast\/"},"modified":"2023-06-02T23:41:34","modified_gmt":"2023-06-03T03:41:34","slug":"mongodb-stock-surges-28-for-best-day-ever-on-big-beat-forecast","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=17494","title":{"rendered":"MongoDB stock surges 28% for best day ever on big beat, forecast"},"content":{"rendered":"
\n

MongoDB Inc. shares soared Friday to log their best day ever after the database company posted a big beat-and-raise quarter, and analysts don\u2019t expect growth to slow soon.<\/p>\n

MongoDB shares
\n MDB,
\n +28.01%<\/bg-quote>
\n soared as much as 35% to an intraday high of $397.98 after blowing away Wall Street expectations late Thursday, and closed up 28% at $376.30.<\/p>\n

\n

That topped the previous best one-day run of 26.3%, set on Sept. 3, 2021, and made Friday the fourth time since the company\u2019s October 2017 initial public offering that shares have rallied 20% or more in a single trading day, according to FactSet data.<\/p>\n

\u201cLooking forward, we believe Mongo can sustain 25%+ revenue growth while continuing to invest for the long term, driven by a combination of strong current customer growth (existing and new workloads, adoption of emerging products) and new customer acquisition,\u201d said Stifel analyst Brad Reback in a note. <\/p>\n

Reback, who has a buy rating on the stock, hiked his price target on MongoDB to $375 from $240. <\/p>\n

From 2017: <\/strong>MongoDB IPO: 5 things to know about database-software company<\/p>\n

Of the 26 analysts that cover MongoDB, 22 have buy ratings, three have hold ratings, and one has a sell rating. Of those, 12 raised their price targets on the stock, resulting in an average price target of $346.91. <\/p>\n

MongoDB shares are up 91.2% on the year, while the S&P 500 index
\n SPX,
\n +1.45%<\/bg-quote>
\n is up 11.5%, and the tech-heavy Nasdaq Composite Index
\n COMP,
\n +1.07%<\/bg-quote>
\n is up 26.5%.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

MongoDB Inc. shares soared Friday to log their best day ever after the database company posted a big beat-and-raise quarter, and analysts don\u2019t expect growth to slow soon. MongoDB shares MDB, +28.01% soared as much as 35% to an intraday high of $397.98 after blowing away Wall Street expectations late Thursday, and closed up 28% […]<\/p>\n","protected":false},"author":1,"featured_media":17495,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-17494","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nMongoDB stock surges 28% for best day ever on big beat, forecast | iFintechWorld<\/title>\n<meta name=\"description\" content=\"MongoDB Inc. shares soared Friday to log their best day ever after the database company posted a big beat-and-raise quarter, and analysts don\u2019t expect\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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