After dipping about 1.1% during Monday's regular trading hours, MongoDB (MDB 1.05%) stock is flying higher during after-hours trading. Reporting third-quarter 2026 financial results after the bell rang, the intelligent data platform provider beat expectations on both the top and bottom lines to the delight of investors.
As of 6:00 p.m. ET, shares of MongoDB are up 21.8% from their closing price of $328.87 at 4:00 p.m.
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A strong performance has management feeling more optimistic about the next quarter
Whereas analysts had expected MongoDB to post revenue of $593.4 million and adjusted earnings per share (EPS) of $0.79, MongoDB reported sales and adjusted EPS of $628.3 million and $1.32, respectively.
NASDAQ: MDB
Key Data Points
CJ Desai, MongoDB's CEO, attributed the company's strong Q3 2026 financial results primarily to the strong performance of its cloud platform, Atlas, which saw a 30% year-over-year increase in revenue.
Based on the company's Q3 2026 performance, management upwardly revised fiscal 2026 revenue to $2.434 billion to $2.439 billion from the fiscal 2026 sales forecast of $2.25 billion to $2.29 billion that it provided in June. Similarly, the company expects a better performance at the bottom of the income statement. While management had originally forecasted adjusted EPS of $2.94 to $3.12, it now projects adjusted EPS of $4.76 to $4.80.
Is it too late to click the buy button on MongoDB stock?
While they have a higher price tag than they did this morning, MongoDB's shares are reasonably valued. Priced at 11.8 times trailing sales -- a discount to their five-year average sales multiple of 14.7 -- MongoDB stock is trading at a discount to its historic sales valuation.
For investors seeking exposure to cloud computing, MongoDB is a valid option; however, those with a lower tolerance for risk may feel more comfortable with a cloud computing exchange-traded fund that includes MongoDB among its holdings.
