What's Going On With MongoDB Shares Friday?
Portfolio Pulse from Dylan Berman
MongoDB, Inc. (NASDAQ:MDB) shares surged after reporting better-than-expected Q2 earnings for fiscal year 2025. The company posted an adjusted EPS of 70 cents, surpassing the 49 cents estimate, and revenue of $478.1 million, beating the $464.04 million estimate. MongoDB also provided strong guidance for Q3 and FY25, leading to multiple analysts raising their price targets.
August 30, 2024 | 5:23 pm
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MongoDB reported strong Q2 earnings, beating both EPS and revenue estimates. The company also provided optimistic guidance for Q3 and FY25, leading to a significant increase in share price and multiple analysts raising their price targets.
MongoDB's better-than-expected earnings and strong future guidance indicate robust business performance, leading to a positive market reaction. The increase in price targets by several analysts further supports the bullish sentiment.
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