On September 2, Rosenblatt raised its price target on MongoDB, Inc. (NASDAQ:MDB) from $395 to $445 while maintaining a Buy rating. This update came after the company reported its second-quarter fiscal 2027 results. The company delivered stronger-than-expected revenue growth, improved profitability and raised its full-year outlook.
MongoDB, Inc. (NASDAQ:MDB) reported second-quarter revenue growth of 30%, surpassing both Rosenblatt's estimate and consensus expectations by about 5%. However, the stock declined more than 12% in pre-market trading following the results, as investors focused on the pace of growth in the company's Atlas cloud business.
Bull Case
The company's Atlas business grew 29% year-over-year and accounted for 73% of total revenue, with its run-rate surpassing $2 billion. This growth was ahead of Rosenblatt's estimate of 26%. MongoDB, Inc.'s (NASDAQ:MDB) non-Atlas on-premise business grew 36% year-over-year.
Customer growth also remained strong as the company added a record 2,900 customers in the second quarter. The number of Voyage customers nearly doubled from the previous quarter. MongoDB, Inc. (NASDAQ:MDB) also reported a non-GAAP operating margin of 24%, up significantly from 15% a year ago, to beat Rosenblatt's estimate of 21%.
#Growth #atlas
MongoDB, Inc. (NASDAQ:MDB) reported second-quarter revenue growth of 30%, surpassing both Rosenblatt's estimate and consensus expectations by about 5%. However, the stock declined more than 12% in pre-market trading following the results, as investors focused on the pace of growth in the company's Atlas cloud business.
Bull Case
The company's Atlas business grew 29% year-over-year and accounted for 73% of total revenue, with its run-rate surpassing $2 billion. This growth was ahead of Rosenblatt's estimate of 26%. MongoDB, Inc.'s (NASDAQ:MDB) non-Atlas on-premise business grew 36% year-over-year.
Customer growth also remained strong as the company added a record 2,900 customers in the second quarter. The number of Voyage customers nearly doubled from the previous quarter. MongoDB, Inc. (NASDAQ:MDB) also reported a non-GAAP operating margin of 24%, up significantly from 15% a year ago, to beat Rosenblatt's estimate of 21%.
#Growth #atlas
24 days ago
