Shares of MongoDB (NASDAQ:MDB) fell in after-hours trading after the company reported earnings for its third quarter of Fiscal Year 2024. Earnings per share came in at $0.96, which beat analysts’ consensus estimate of $0.51 per share.
Sales increased by 29.8% year-over-year, with revenue hitting $432.94. This beat analysts’ expectations by $29 million.
Looking forward, management now expects revenue and adjusted earnings per share for Q4 2024 to be in the ranges of $429 million to $433 million and $0.44 to $0.46, respectively.
For Fiscal Year 2024, revenue is anticpated between $1.654 billion and $1.658 billion with an EPS figure between $2.89 and $2.91.
Is MDB Stock a Buy?
Turning to Wall Street, analysts have a Strong Buy consensus rating on MDB stock based on 12 Buys, two Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average MDB price target is $446.09 per share, which implies a slight upside potential after a 120% year-to-date rally.
