It's not always in the name.
A stronger-than-expected fiscal quarter coupled with a strong forecast of future earnings growth prompted investors to scoop up shares of database software company MongoDB (MDB) - Get Report on Tuesday, which in turn spurred Citi to tout the company’s “solid” revenue outlook.
MongoDB stock jumped nearly 9% after the company reported a third-quarter adjusted loss of 26 cents a share, better than the 28-cent-a-share loss expected by analysts surveyed by FactSet. Revenue came in at $109.4 million, up from $71.8 million in the year-ago quarter and above analysts’ estimates of $99.7 million.
The report “shakes off concerns of decelerating growth,” according to a post-earnings research note from Citi analyst Tyler Radke that also highlighted the database software company’s “solid” revenue outlook.
So what exactly - or who - is MongoDB? It is an open-source database management system (DBMS, which is where the 'D' and 'B' come from) that uses a document-oriented database model that supports various forms of data.
So instead of using tables and rows as you'd find in a spreadsheet, the MongoDB architecture is made up of collections and documents.
Whatever it is and whatever it it means, it is a name that is likely to garner more attention from investors, especially if revenue and earnings continue on the trajectory that they have been.
Shares of MongoDB were up 6.56%, or $8.60 a share, at $139.61 in morning trading on the Nasdaq Stock Market. The stock has climbed more than 20% over the past three months.