MongoDB faces competitive threats from Amazon’s (NYSE: AMZN)
DocumentDB database and the former has been trying to diversify its portfolio by
acquiring companies like mLabs and Realm. The availability of MongoDB’s cloud
database in more than 60 regions is an advantage for the company.
In the first quarter of 2020, MongoDB reported better-than-expected results. Revenues rose 78% to $89.4 million while adjusted loss per share narrowed to $0.22 from $0.37 a year ago. Subscription revenues rose 82% year-over-year. The company had 14,200 customers at quarter-end.
Also see: MongoDB Q1 2020 Earnings Conference Call Transcript
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For the second
quarter, MongoDB has guided for revenues of $90-92 million and adjusted losses
between $0.27 and $0.29 per share. For the full year, the company
expects revenues of $375-381 million and adjusted loss per share of $1.11 to
$1.04.
MongoDB’s shares have gained 88% thus far this year and 10% in the past three months. The majority of analysts have rated the stock as Buy and it has an average 12-month price target of $167.30.