What happened

Shares of MongoDB (NASDAQ:MDB) climbed 13.3% in September, according to data from S&P Global Market Intelligence, after the database platform specialist announced strong quarterly results.

Even after gaining 33% in August as several analyst firms weighed in with upgrades and increased price targets, MongoDB stock continued to climb early last month, after the company posted fiscal second-quarter 2019 results that handily exceeded expectations.

Man in suit drawing an arrow indicating stock market gains


So what

More specifically, MongoDB's quarterly revenue grew 61.5% year over year to $57.5 million, helped by 63% growth in subscription revenue and a 72% increase in its number of total customers to over 7,400.

MongoDB CEO Dev Ittycheria cited "outstanding performance across the board," with "strong demand from both new and existing customers across a growing number of use cases."

Now what

What's more, MongoDB told investors to expect fiscal third-quarter revenue of $59 million to $60 million, good for growth of 43.4% at the midpoint from $41.5 million in the same year-ago period. As such, the company increased its full fiscal-year 2019 outlook to call for revenue of $228 million to $230 million, up from $217 million to $220 million before.

In the end, this was another straightforward beat-and-raise scenario from MongoDB, and the market was simply responding in kind by driving shares to a fresh all-time high.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.