Latest news with #DevIttycheria
Yahoo
a day ago
- Business
- Yahoo
Why MongoDB, Inc. (MDB) Soared On Thursday
We recently published a list of . In this article, we are going to take a look at where MongoDB, Inc. (NASDAQ:MDB) stands against other best-performing stocks on Thursday. MongoDB saw its share prices increase by 12.84 percent on Thursday to close at $225.38 apiece as investor sentiment was boosted by its impressive earnings performance and optimistic business outlook for the rest of the year. In its financial statement, MongoDB, Inc. (NASDAQ:MDB) said it narrowed its net loss by 53 percent to $37.6 million in the first quarter of the year from the $80.59 million registered in the same period last year. A software engineer hosting a remote video training session on a multi-cloud database-as-a-service solution. Revenues increased by 22 percent to $549 million from $450 million registered year-on-year. Amid the strong performance, MongoDB, Inc. (NASDAQ:MDB) is looking at a higher range of revenue outlook for the second quarter, between $548 million and $553 million, while revenues for the full-year period were pegged at a range of $2.25 billion to $2.29 billion. 'MongoDB is off to a strong start in fiscal 2026 with 26 percent Atlas revenue growth, meaningful margin outperformance, and the highest total net customer additions in six years,' said MongoDB, Inc. (NASDAQ:MDB) President and CEO Dev Ittycheria. 'Looking ahead, we see an incredible opportunity for customers to take advantage of MongoDB's modern architecture, which delivers real and measurable advantages for the types of applications being built today—cloud-native, distributed, real-time—and the AI-powered applications of tomorrow. We are confident in our position to drive profitable growth as we benefit from this next wave of application development,' he added. Overall, MDB ranks 4th on our list of best-performing stocks on Thursday. While we acknowledge the potential of MDB as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
CNBC
3 days ago
- Business
- CNBC
Enterprise slowly adopting AI, in future it will want custom solutions, says MongoDB CEO
Dev Ittycheria, MongoDB CEO, joins 'Closing Bell Overtime' to talk quarterly results, AI adoption, full year guidance and more.
Yahoo
3 days ago
- Business
- Yahoo
MongoDB Stock Rallies as Analysts Raise Price Targets on Strong Quarterly Results
Several Wall Street analysts raised their price targets for MongoDB's stock after the company posted strong quarter results and raised its outlook. The company's Atlas multi-cloud database subscription offering saw its highest total net customer additions in six years. Analysts said that growth runs counter to the recent bearish narrative around the of AI-powered software provider MongoDB (MDB) surged Thursday as the company's strong quarterly results and improved outlook drew price target hikes from analysts. The company's Atlas multi-cloud database subscription offering saw its highest total net customer additions in six years, which Morgan Stanley analysts said 'flies in the face of the bear case narrative that MongoDB is losing [market] share.' The bank lifted its target to $255 from $235. MongoDB shares added nearly 13% Thursday to close at $225.38, with Morgan Stanley's target suggesting the stock could stand to climb another 13%. Still, the stock has lost about 3% year-to-date, after plunging in March on disappointing results a quarter ago. Citi analysts were even more bullish following the results, raising their target to $395 from $330. The bank called MongoDB's results a 'convincing rebuke to the ongoing narrative of increasing competition and diminishing developer mindshare.' Meanwhile, UBS analysts raised their target to $240 from $213. MongoDB reported first-quarter revenue of $549 million, up 22% year-over-year, which CEO Dev Ittycheria attributed to enterprise clients choosing its software to modernize existing AI applications and build new ones. Read the original article on Investopedia Sign in to access your portfolio
Yahoo
3 days ago
- Business
- Yahoo
MongoDB Soars 14.2% After Crushing Q1 -- $1B Buyback, AI Push, and Customer Surge Spark Rally
MongoDB (NASDAQ:MDB) is off to a fast start in fiscal 2026and investors might want to take a closer look. The company reported $549 million in Q1 revenue, up 22% from last year, with its cloud product, Atlas, growing 26% and now making up 72% of total sales. Management added 2,600 new customers, marking the biggest quarterly gain in six years. The share is up 14.2% at 12.09pm today. CEO Dev Ittycheria pointed to strong traction from both enterprises and startups as AI workloads and modern app development continue to drive demand for flexible, cloud-native databases. Behind the scenes, MongoDB is becoming a cash machine. The company more than doubled non-GAAP operating income to $87.4 million and posted $105.9 million in free cash flowup 74% year-over-year. With $2.5 billion in cash and short-term investments on hand, it just authorized another $800 million in share repurchases, taking its total buyback program to $1 billion. That kind of financial firepower could give MongoDB more room to support long-term growth while returning capital to shareholders. On the AI front, MongoDB isn't just playing defense. It rolled out new retrieval modelsVoyage 3.5 and 3.5 Litethat improve accuracy and efficiency for building AI-powered apps. It also debuted its Model Context Protocol Server, which connects MongoDB to tools like GitHub Copilot and Anthropic's Claude, letting developers use natural language to interact with their data. With FY2026 revenue guidance raised up to $2.29 billion and full-year non-GAAP EPS projected to hit as high as $3.12, MongoDB could be shaping up as a quiet leader in the AI infrastructure race. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- Business
- Yahoo
MDB Q1 Earnings Call: Cloud Database Growth and AI Initiatives Shape Outlook
Database software company MongoDB (MDB) fell short of the market's revenue expectations in Q1 CY2025, but sales rose 21.9% year on year to $549 million. Its non-GAAP EPS of $1 per share was 52% above analysts' consensus estimates. Is now the time to buy MDB? Find out in our full research report (it's free). Revenue: $549 million (21.9% year-on-year growth) Adjusted EPS: $1 vs analyst estimates of $0.66 (52% beat) Adjusted Operating Income: $87.43 million vs analyst estimates of $56.36 million (15.9% margin, 55.1% beat) Revenue Guidance for Q2 CY2025 is $550.5 million at the midpoint, roughly in line with what analysts were expecting Management raised its full-year Adjusted EPS guidance to $3.03 at the midpoint, a 19.8% increase Operating Margin: -9.8%, up from -21.8% in the same quarter last year Customers: 57,100, up from 54,500 in the previous quarter Annual Recurring Revenue: $1.61 billion at quarter end, up 25.1% year on year Billings: $509.3 million at quarter end, up 23.2% year on year Market Capitalization: $16.32 billion MongoDB's first quarter results were shaped by ongoing adoption of its Atlas cloud database, continued expansion into larger enterprise accounts, and increased self-serve customer acquisition. CEO Dev Ittycheria emphasized that the company's architectural approach—with a document model designed for complex, evolving data—remains central to its appeal for both new application development and legacy modernization. Management pointed out particularly strong net new customer additions, highlighting traction in industries focused on cloud-native and AI-powered applications. The quarter also benefited from higher operational efficiency, with non-GAAP margins improving due to disciplined expense management and a slower pace of headcount additions. Looking forward, MongoDB's updated guidance is anchored in expectations for sustained Atlas cloud growth, ongoing investments in AI-related features, and targeted expansion within the enterprise segment. CFO Mike Gordon noted the company's intent to balance continued innovation with operational discipline, stating, 'We are focused on running an efficient, scalable business that supports growth in revenue and profitability.' Management remains attentive to macroeconomic uncertainty and the timing of multi-year license renewals, which are expected to weigh on non-Atlas revenue in the second half of the year. The company's strategic priorities include advancing its AI platform capabilities, further automating application modernization, and executing a $1 billion share repurchase program to support shareholder value. Management attributed first quarter performance to increased demand for Atlas, accelerating self-serve customer growth, and early returns from investments in AI and modernization tooling. Atlas cloud adoption: Growth in Atlas, MongoDB's fully managed cloud database, was driven by broad customer demand for real-time, cloud-native, and AI-enabled applications. Management cited rapid uptake from both new and existing customers, with Atlas now representing the majority of revenue. Self-serve momentum: The self-serve channel posted its highest customer additions in over six years, indicating MongoDB's growing appeal among developers and small businesses. This channel is seen as a long-term engine for growth, especially as many accounts start small but have potential for expansion. Enterprise and upmarket focus: The company's initiative to shift go-to-market resources from mid-market to enterprise accounts resulted in larger deal sizes and higher sales productivity. Management noted increased engagement with Fortune 500 companies and highlighted several large customer wins this quarter. AI and Voyage acquisition: MongoDB's recent acquisition of Voyage AI was highlighted as a strategic move to strengthen the company's position in AI application development. Embedding and search enhancements from Voyage are expected to improve the performance and cost-efficiency of AI workloads on MongoDB's platform. Operational efficiency: Improved non-GAAP operating margins were attributed to both outperformance in revenue and slower-than-planned headcount additions. Management emphasized ongoing scrutiny of spending and plans to reallocate resources toward higher-return initiatives. MongoDB expects future performance to be shaped by ongoing cloud adoption, AI feature enhancements, and a disciplined investment approach. Atlas momentum and expansion: Management projects continued growth in Atlas, supported by demand for scalable, cloud-based data solutions in both traditional and AI-powered applications. The company is investing in new features to meet evolving enterprise requirements. AI platform integration: The integration of Voyage AI's embedding and search models is expected to enhance MongoDB's value proposition for customers building custom AI solutions. Management sees AI as a long-term driver, though enterprise adoption remains early and subject to talent and trust barriers. Macroeconomic and license renewal risks: Management cautioned that macroeconomic volatility and the timing of multi-year license renewals could create headwinds for non-Atlas revenue in upcoming quarters. The company is maintaining a balanced approach to spending while monitoring these external factors. In the coming quarters, the StockStory team will watch (1) the pace of Atlas customer additions and expansion within larger enterprise accounts, (2) evidence that AI and app modernization features are driving customer adoption and incremental workloads, and (3) the impact of macroeconomic conditions and multi-year license renewals on non-Atlas revenue. Progress on integrating Voyage AI capabilities and execution of the expanded share repurchase program will also be important markers. MongoDB currently trades at a forward price-to-sales ratio of 6.9×. In the wake of earnings, is it a buy or sell? The answer lies in our full research report (it's free). 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