MongoDB Stock Falls After Blowout Earnings. Analysts Say Competition Is Getting Intense.
December 9, 2024

MongoDB the database software, reported a strong fiscal third quarter. MongoDB posted third-quarter earnings per share of $1.16 on revenue of $529.4 million, beating Wall Street’s estimate of 67 cents on revenue of $497.7 million. Despite the earnings beat, shares of MongoDB were sinking 14% to $301.76 on Tuesday, snapping a two-day winning streak.