Database platform company MongoDB (NASDAQ:MDB) will be reporting results this Tuesday after the bell. Here’s what you need to know.
MongoDB beat analysts’ revenue expectations last quarter, reporting revenues of $687.6 million, up 25.2% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ billings estimates and EPS guidance for next quarter exceeding analysts’ expectations. It added 96 enterprise customers paying more than $100,000 annually to reach a total of 2,895.
Is MongoDB a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting MongoDB’s revenue to grow 24.3% year on year, in line with the 23.7% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. MongoDB has a history of exceeding Wall Street’s expectations.
Looking at MongoDB’s peers in the data and analytics software segment, some have already reported their Q2 results, giving us a hint as to what we can expect. DigitalOcean delivered year-on-year revenue growth of 28.6%, beating analysts’ expectations by 0.9%, and Commvault reported revenues up 11.4%, topping estimates by 1.2%. DigitalOcean traded down 2.1% following the results while Commvault was also down 19.5%.
Read our full analysis of DigitalOcean’s results here and Commvault’s results here.
There has been positive sentiment among investors in the data and analytics software segment, with share prices up 14.2% on average over the last month. MongoDB is up 24.8% during the same time and is heading into earnings with an average analyst price target of $441.69 (compared to the current share price of $446.63).
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