MongoDB Q2 revenue beat; outlook fails to impress investors
MDB•Analyst view and valuation
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 36 "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell".
The average consensus recommendation for the software peer group is "buy". Wall Street's median 12-month price target for MongoDB, Inc. is $460.00, about 1.5% above its August 31 closing price of $453.37.
The stock recently traded at 67 times the next 12-month earnings versus a P/E of 52 three months ago.
Quarterly results beat estimates
MongoDB said fiscal second-quarter revenue rose 30% year over year, beating analyst expectations, while shares were down about 12% in extended trading.
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Beat | $771.80 mln | $732.91 mln (35 Analysts) |
| Q2 Adjusted EPS | Beat | $1.90 | $1.61 (35 Analysts) |
| Q2 EPS | $0.50 | ||
| Q2 Adjusted Net Income | Beat | $162.60 mln | $134.21 mln (31 Analysts) |
| Q2 Net Income | $40.90 mln |
Outlook raised for full year fiscal 2027
MongoDB raised its full-year fiscal 2027 revenue outlook to $2.99 bln-$3.03 bln. The company expects third-quarter revenue between $756 mln and $761 mln and forecasts full-year non-GAAP EPS of $6.39 to $6.58.
The company said Atlas revenue rose 29% year over year, driving overall performance and prompting the guidance raise. Enterprise Advanced and other revenue rose 36% year over year, contributing to total revenue growth. MongoDB also cited early momentum with AI workloads and new retrieval features as supporting demand, according to CEO CJ Desai.
