Shares of MongoDB (NASDAQ:MDB) fell in after-hours trading after the company reported earnings for its fourth quarter of Fiscal Year 2023. Earnings per share came in at $0.57, which beat analysts’ consensus estimate of $0.07 per share.
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Sales increased by 35.6% year-over-year, with revenue hitting $361.31 million. This beat analysts’ expectations of $337.91 million. Revenue for the MongoDB Atlas system was up 50% this year, reports noted. Customer growth is also substantial, coming in at a total of over 40,800 customers this year.
Looking forward, management now expects revenue for Q1 2024 to be in the range of $344 million to $348 million. EPS is expected to be in the range of $0.17 – $0.20. Full-year 2024 figures, meanwhile, are expected to be $1.48 billion to $1.51 billion, with an EPS of $0.96 to $1.10.
Overall, Wall Street has a consensus price target of $258.27 on MongoDB, implying 12.84% upside potential, as indicated by the graphic above.
