MongoDB (MDB) To Report Earnings Tomorrow: Here Is What To Expect
Database software company MongoDB (MDB) will be reporting earnings tomorrow afternoon. Here's what investors should know.
MongoDB beat analysts' revenue expectations by 5.6% last quarter, reporting revenues of $548.4 million, up 19.7% year on year. It was a mixed quarter for the company, with a solid beat of analysts' billings estimates but full-year EPS guidance missing analysts' expectations significantly. It added 82 enterprise customers paying more than $100,000 annually to reach a total of 2,396.
Is MongoDB a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting MongoDB's revenue to grow 17.1% year on year to $527.5 million, slowing from the 22.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.66 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. MongoDB has missed Wall Street's revenue estimates twice over the last two years.
Looking at MongoDB's peers in the data storage segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Commvault Systems delivered year-on-year revenue growth of 23.2%, beating analysts' expectations by 4.8%, and Snowflake reported revenues up 25.7%, topping estimates by 3.4%. Commvault Systems's stock price was unchanged after the resultswhile Snowflake was up 13.5%.
Read our full analysis of Commvault Systems's results here and Snowflake's results here.
There has been positive sentiment among investors in the data storage segment, with share prices up 7.9% on average over the last month. MongoDB is up 11.6% during the same time and is heading into earnings with an average analyst price target of $252.34 (compared to the current share price of $192.98).
Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next.
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