MONGO- A quick run to $420-?
MongoDB
A pioneer of the cloud-native database, Atlas -- its fully hosted database-as-a-service solution -- not only works with legacy rows and columns but can also handle video and audio files, social media posts, and even entire documents, offering users much more robust database functionality. It also provides a vast repository of generative
artificial intelligence (AI) tools.
CEO Dev Ittycheria recently laid out the magnitude of the opportunity for MongoDB: "We believe the recent breakthroughs in AI represent the next frontier of software development. The move to embed AI in applications requires a broad and sophisticated set of capabilities while enabling developers to move even faster to create a competitive advantage." As a result, he believes the company is "well positioned to benefit from the next wave of AI applications in the years to come."
MongoDB has generated enviable growth even during the worst downturn in over a decade. In its 2024 first quarter, ended April 30, its revenue climbed 29% year over year, while adjusted EPS soared 180%. Perhaps more telling is the company's expanding customer base, as it added 2,300 customers during the quarter, up 22% year over year, the highest number of additions in more than two years.
MongoDB's solid track record of operating results and its growing opportunity has driven the stock up 108% so far this year. The cumulative results since the company's public debut in late 2017 are even more striking. Revenue has soared 1,300%, sending its stock price up 1,170%, with the stock price above $408 as of Monday's market close. MongoDB's growth spurt is likely to continue, suggesting a stock split could be in the cards. <---------
WELL FOLKS WITH THE CHANCE OF A STK SPLIT! AND THE CHANCE OF REALLY GOOD EARN AND THE CHANCE OF TALKING ABOUT AI AND THE FACT THAT MONGO IS ON OUR 2ND LEVEL AI LIST... IT ALL ADDS UP TO....
MONGO DB IS THE GBA STOCK OF THE WEEK