Shares of MongoDB (NASDAQ:MDB) rocketed upward in after-hours trading after the company reported earnings for its first quarter of Fiscal Year 2023. Earnings per share came in at $0.56, which beat analysts’ consensus estimates calling for $0.18. Sales increased by 29% year-over-year, with revenue hitting $368.28 million. This beats analysts’ expectations of $347.04 million.
Management at MongoDB offered some guidance. Right now, MongoDB management looks for revenue to come in between $388 million and $392 million. As for earnings per share, it looks for between $0.43 and $0.46 per share. Additionally, for the full year 2024, MongoDB looks for revenue between $1.522 billion and $1.542 billion. Earnings per share, meanwhile, is expected between $1.42 and $1.56 per share.
Overall, Wall Street has a consensus price target of $262.29 on MongoDB, implying 10.77% downside risk, as indicated by the graphic above.
