MDB - Why MongoDB Stock Tumbled 19.9% in March
2024-04-04 06:20:00 ET
Shares of database software provider MongoDB (NASDAQ: MDB) are still up big since bottoming out in late 2022, but the stock got a reality check in March. While MongoDB's fourth-quarter results beat expectations across the board, the company's guidance left a lot to be desired.
MongoDB grew revenue by 27% year over year in the fourth quarter of fiscal 2024. Atlas, the company's managed database product, saw revenue expand by 34%. For the full year, total revenue grew by 31%.
Fiscal 2025, which kicked off on Feb. 1, is going to look very different. MongoDB's outlook calls for revenue between $1.90 billion and $1.93 billion, up just 14% from fiscal 2024. The consensus analyst estimate called for full-year revenue of $2.03 billion.
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Why MongoDB Stock Tumbled 19.9% in March