MongoDB (MDB) To Report Earnings Tomorrow: Here Is What To Expect

Adam Hejl /
2022/03/07 7:08 am EST

Database software company MongoDB (MDB) will be reporting earnings tomorrow after market hours. Here's what you need to know.

Last quarter MongoDB reported revenues of $226.8 million, up 50.4% year on year, beating analyst revenue expectations by 10.5%. It was a very strong quarter for the company, with an impressive beat of analyst estimates and an exceptional revenue growth. The company added 75 enterprise customers paying more than $100,000 annually to a total of 1,201.

Is MongoDB buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting MongoDB's revenue to grow 42.3% year on year to $243.4 million, improving on the 38.4% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.21 per share.

MongoDB Total Revenue

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 9.05%.

Looking at MongoDB's peers in the data storage segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. Commvault Systems delivered top-line growth of 7.65% year on year, beating analyst estimates by 3.91% and DigitalOcean reported revenues up 36.7% year on year, exceeding estimates by 0.53%. Commvault Systems traded down 0.6% on the results, DigitalOcean was down 14.7%. Read our full analysis of Commvault Systems's results here and DigitalOcean's results here.

Tech stocks have had a rocky start in 2022 and while some of the software stocks have fared somewhat better, they have not been spared, with share price declining 12% over the last month. MongoDB is down 25% during the same time, and is heading into the earnings with analyst price target of $543.2, compared to share price of $305.81.

One way to find opportunities in the market is to watch for generational shifts in the economy. Almost every company is slowly finding itself becoming a technology company and facing cybersecurity risks and as a result, the demand for cloud-native cybersecurity is skyrocketing. This company is leading a massive technological shift in the industry and with revenue growth of 70% year on year and best-in-class SaaS metrics it should definitely be on your radar.

The author has no position in any of the stocks mentioned.