MongoDB Stock News and Forecast: MDB adds $6 billion to market cap with 27% earnings rally

MongoDB nearly tripled the adjusted EPS expectation in fiscal Q1.
MDB stock completely closed the gap from September 1, 2022.
Atlas platform, which accounts for two-thirds of revenue, increased 40% YoY.
MongoDB added 2,300 customers in Q1, the most in two years.

Clay Webster FXStreet

MongoDB (MDB), a company that provides a cloud database-as-a-service platform to corporations worldwide, surprised the market late Thursday with a strong showing in its fiscal first-quarter earnings results. MDB shot up 27% in Friday’s premarket, adding about $6 billion in market cap to the tech firm.

MongoDB stock news: Guidance swings higher

Wall Street analysts had placed their consensus for $0.19, but instead MongoDB brought home nearly three times as much at $0.56 per share. Revenue of $368 million grew 29% YoY and beat the analyst consensus by $21 million.

MongoDB’s main product, its Atlas platform, saw revenue rise 40% YoY as the company added 2,300 customers during the quarter – its highest in two years. It now has 43,100 customers.

The outlook is what really drove market demand however. MongoDB CEO Dev Ittycheria guided for next quarter revenue at a midpoint of $390 million. Prior forecasts had average just below $361 million. Ittycheria also said Q2 adjusted EPS would arrive between $0.43 and $0.46 versus consensus from analysts for $0.14.

For the full year, MongoDB’s management is expecting revenue of $1.532 billion, while consensus had been $1.510 billion. The consensus estimate for full-year adjusted EPS at $1.04 was easily surpassed by Ittycheria’s $1.49 midpoint guide.

“The shift to AI will favor modern platforms that offer a rich and sophisticated set of capabilities, delivered in a performance and scalable way,” said Ittycheria on the earnings call. “We are observing an emerging trend where customers are increasingly choosing Atlas as a platform to build and run new AI applications. For example, in Q1, more than 200 of the new Atlas customers were [artificial intelligence] or [machine learning] companies.”

MongoDB stock forecast

MongoDB stock was already telling traders it was a buy when the daily chart featured a Golden Cross on May 10. This is when the 50-day moving average crosses above its 200-day counterpart. Although the 200-day was rising at the time of the cross (ideally it should be falling too), it may still be a bullish sign for the stock. MDB stock has been in an uptrend since last November, but this current earnings rally is still a bit surprising.

MDB gobbled up the gap down from September 1 of last year and is now approaching resistance from August 2022 at $390. Above that point there are few bull targets until one reaches the $460 double-top from spring 2020.

MDB daily chart

Author

Clay Webster

FXStreet

Clay Webster grew up in the US outside Buffalo, New York and Lancaster, Pennsylvania. He began investing after college following the 2008 financial crisis.

AUD/USD bulls seem hesitant below 0.7050 ahead of RBA on Tuesday

AUD/USD reverses an Asian session dip on Monday as renewed optimism over Iran diplomacy boosts investor confidence, keeping a lid on the safe-haven US Dollar and supporting the risk-sensitive Aussie. Spot prices, however, remain below the one-month high, touched last Thursday, as bulls wait for the crucial RBA decision before taking fresh positions.

USD/JPY climbs to 158.00 neighborhood as BoJ uncertainty weighs on the JPY

The USD/JPY pair gains some positive traction at the start of a new week, recovering further from Friday's post-Bank of Japan (BoJ) swing low to sub-157.00 levels. The momentum lifts spot prices to the 158.00 neighborhood during the Asian session and seems unaffected by fresh intervention warning from Japan's Finance Minister Satsuki Katayama.

Gold recovers on positive US-Iran headlines

Gold extends its recovery during American trading hours on Monday, supported by falling Oil prices following positive headlines on US-Iran talks. The metal regains ground after hitting a fresh yearly low of $3,870 on Friday and ending October down 6.87%. However, the rebound lacks conviction as the fundamental backdrop continues to raise doubts over a sustained recovery.

Bitcoin braces for US midterm elections as historical sell-offs revive downside concerns

Bitcoin (BTC) braces for the impact of the US midterm elections, just a week after the $6 billion hack from Binance. Historically, congressional elections have negatively affected not just the president’s party but also Bitcoin. In the last 22 midterms, the ruling party has gained House seats only twice, while the three most recent elections coincided with Bitcoin’s bear market bottoms.

Why strong US growth could not stop the bond rally and AI selloff

The US economy grew at a 3.4% annual rate, yet Treasury yields fell and the Nasdaq ended October with its worst monthly performance since March 2025. The market is no longer rewarding capital expenditure simply because it supports growth. Investors are testing whether that expenditure can produce cash flow and returns above the cost of capital.

The 2% inflation target came from a throwaway remark. It now moves trillions

The Federal Reserve's 2% inflation goal grew out of an off-the-cuff remark by a New Zealand politician in 1988. Bond investors still price long-term US debt as if 2% holds, so a change in how the Fed measures inflation would move markets.