What happened
Shares of database software company MongoDB (MDB 3.75%) jumped on Wednesday despite no news. The stock has been surging since early February, carving out new all-time highs in the process, and was up about 10.1% at today's market close.
So what
MongoDB went public in October of last year. Its first quarterly report as a publicly traded company was positive, beating expectations for both revenue and earnings. The stock rallied following that report, but fizzled in January, erasing all those gains.
Image source: MongoDB.
Revenue growth has been particularly impressive, and expectations of continued strong growth may be pushing up the stock. During the third quarter, MongoDB logged $41.49 million of revenue, up 57.8% year over year and about $4.3 million higher than analyst forecasts.
MongoDB now has 4,900 customers, gaining 600 new customers in the third quarter alone. Atlas, the company's database-as-a-service offering, now has 2,600 customers, up from 1,900 at the end of the second quarter.
Now what
MongoDB will report its fourth-quarter results after the market closes on March 13. Analysts are anticipating revenue of $42.16 million and a non-GAAP loss of $0.43 per share.
With the stock now up 54% from its 52-week low, MongoDB will need to put up some impressive numbers to keep the rally going.
