{"id":55910,"date":"2023-09-01T19:16:02","date_gmt":"2023-09-01T23:16:02","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/masterclass-hats-off-analysts-heap-praise-on-mongodb-after-another-beat-and-raise\/"},"modified":"2023-09-01T19:16:04","modified_gmt":"2023-09-01T23:16:04","slug":"masterclass-hats-off-analysts-heap-praise-on-mongodb-after-another-beat-and-raise","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=55910","title":{"rendered":"‘Masterclass’, ‘Hats off’: Analysts heap praise on MongoDB after another beat and raise"},"content":{"rendered":"
\n
\n

\u00a9 Reuters MongoDB jumps 8% on Q2 beat & strong guidance<\/span>
\n<\/i>\n<\/div>\n

MongoDB <\/span><\/span> (NASDAQ:) shares surged about 5% in premarket Friday trading after the company’s topped analyst estimates.<\/p>\n

EPS of $0.93 came in better than the consensus estimate of $0.46. Revenue was $423.8 million, beating the consensus estimate of $393.68M.<\/p>\n

Subscription revenue grew 40% year-over-year to $409.3M, while services revenue was up 20% to $14.5M.<\/p>\n

“MongoDB delivered excellent results in the second quarter, highlighted by 40% revenue growth, continued strength in new workload acquisition and record operating margin. The ongoing success of our new business efforts for Atlas and Enterprise Advanced across our sales channels is a testament to the value of MongoDB’s run anywhere strategy which enables customers of any size to innovate faster and more efficiently,” said CEO Dev Ittycheria.<\/p>\n

For Q3\/24, the company expects EPS of $0.47-$0.50, compared to the consensus of $0.27, and revenue of $400-$404M, compared to the consensus of $389.12M.<\/p>\n

For the full year, the company sees EPS at $2.27-$2.35, compared to the consensus of $1.55, and revenue at $1.596-$1.608B, compared to the consensus of $1.55B.<\/p>\n

Guggenheim analysts said the company “put on a clinic” with its results.<\/p>\n

“We take our hats off to the management team. By our estimates, if New ARR continues to further accelerate against even easier comps in F2H (which implies modest acceleration on a two-year growth stack), then the model allows for a similar or even slightly greater upside vs. guidance\/consensus, as well as nearly 32% total growth in FY24,” they said in a note.<\/p>\n

However, the analysts remain Sell-rated with the price target raised to $250 from $220 due to increased out-year forecasts.<\/p>\n

Goldman Sachs analysts argued that “true beat and raise reflects strong execution.” They lifted the price target to $450 per share.<\/p>\n

“Even with the true FY raise, we see upside bias to 2H as management maintains a conservative guidance posture that factors for no improvement to macro conditions,” the analysts wrote in the post-earnings report.<\/p>\n

“Longer-term, we remain constructive on MongoDB\u2019s ability to capture outsized share of the database market and durably sustain >20% subs growth (w\/ expanding margins) given multiple secular tailwinds (NoSQL, cloud) and an emerging growth vector in Gen-AI (link), where tools and features such as Relational Migrator (e.g. app modernization) and Vector Search can be accretive to Atlas consumption growth.”<\/p>\n

(Additional reporting by Senad Karaahmetovic)<\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n<\/div>\n

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

\u00a9 Reuters MongoDB jumps 8% on Q2 beat & strong guidance MongoDB (NASDAQ:) shares surged about 5% in premarket Friday trading after the company’s topped analyst estimates. EPS of $0.93 came in better than the consensus estimate of $0.46. Revenue was $423.8 million, beating the consensus estimate of $393.68M. Subscription revenue grew 40% year-over-year to […]<\/p>\n","protected":false},"author":1,"featured_media":7198,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-55910","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\n'Masterclass', 'Hats off': Analysts heap praise on MongoDB after another beat and raise | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters MongoDB jumps 8% on Q2 beat & strong guidance MongoDB (NASDAQ:) shares surged about 5% in premarket Friday trading after the company's\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=55910\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"'Masterclass', 'Hats off': Analysts heap praise on MongoDB after another beat and raise | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"\u00a9 Reuters MongoDB jumps 8% on Q2 beat & strong guidance MongoDB (NASDAQ:) shares surged about 5% in premarket Friday trading after the company's\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=55910\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-01T23:16:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-09-01T23:16:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/moved_LYNXNPEI3O0EL_L.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"534\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=55910#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=55910\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"‘Masterclass’, ‘Hats off’: Analysts heap praise on MongoDB after another beat and raise\",\"datePublished\":\"2023-09-01T23:16:02+00:00\",\"dateModified\":\"2023-09-01T23:16:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=55910\"},\"wordCount\":404,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=55910#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=55910\",\"url\":\"https:\/\/ifintechworld.com\/?p=55910\",\"name\":\"'Masterclass', 'Hats off': Analysts heap praise on MongoDB after another beat and raise | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-09-01T23:16:02+00:00\",\"dateModified\":\"2023-09-01T23:16:04+00:00\",\"description\":\"\u00a9 Reuters MongoDB jumps 8% on Q2 beat & strong guidance MongoDB (NASDAQ:) shares surged about 5% in premarket Friday trading after the company's\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=55910#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=55910\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=55910#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"‘Masterclass’, ‘Hats off’: Analysts heap praise on MongoDB after another beat and raise\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"'Masterclass', 'Hats off': Analysts heap praise on MongoDB after another beat and raise | iFintechWorld","description":"\u00a9 Reuters MongoDB jumps 8% on Q2 beat & strong guidance MongoDB (NASDAQ:) shares surged about 5% in premarket Friday trading after the company's","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=55910","og_locale":"en_US","og_type":"article","og_title":"'Masterclass', 'Hats off': Analysts heap praise on MongoDB after another beat and raise | iFintechWorld","og_description":"\u00a9 Reuters MongoDB jumps 8% on Q2 beat & strong guidance MongoDB (NASDAQ:) shares surged about 5% in premarket Friday trading after the company's","og_url":"https:\/\/ifintechworld.com\/?p=55910","og_site_name":"iFintechWorld","article_published_time":"2023-09-01T23:16:02+00:00","article_modified_time":"2023-09-01T23:16:04+00:00","og_image":[{"width":800,"height":534,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/05\/moved_LYNXNPEI3O0EL_L.jpg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=55910#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=55910"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"‘Masterclass’, ‘Hats off’: Analysts heap praise on MongoDB after another beat and raise","datePublished":"2023-09-01T23:16:02+00:00","dateModified":"2023-09-01T23:16:04+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=55910"},"wordCount":404,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=55910#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=55910","url":"https:\/\/ifintechworld.com\/?p=55910","name":"'Masterclass', 'Hats off': Analysts heap praise on MongoDB after another beat and raise | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-09-01T23:16:02+00:00","dateModified":"2023-09-01T23:16:04+00:00","description":"\u00a9 Reuters MongoDB jumps 8% on Q2 beat & strong guidance MongoDB (NASDAQ:) shares surged about 5% in premarket Friday trading after the company's","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=55910#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=55910"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=55910#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"‘Masterclass’, ‘Hats off’: Analysts heap praise on MongoDB after another beat and raise"}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/55910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=55910"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/55910\/revisions"}],"predecessor-version":[{"id":55911,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/55910\/revisions\/55911"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/7198"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=55910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=55910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=55910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}