Why MongoDB Shares Jumped 11.1% Today
Shares of MongoDB (NASDAQ: MDB) closed Thursday's trading 11.1% higher. The NoSQL database software maker didn't have any news of its own today, but the stock was able to ride a delayed updraft from Tuesday evening's stellar earnings report as traditional database giant Oracle (NYSE: ORCL) reported less impressive results Wednesday evening. Oracle's stock fell 6.5% on Thursday, reacting to the same news from a very different point of view.
MongoDB's fourth-quarter sales rose 38% year over year to $171 million, smoking Wall Street's consensus estimate of $157 million. Oracle's third-quarter revenues increased by 3% to $10.1 billion, edging out the Street's $10.07 billion target by a rounding error. Both companies also exceeded Wall Street's earnings estimates. MongoDB's adjusted net loss of $0.33 per share was 15% smaller than expected, while Oracle's earnings of $1.16 per share works out to a 5% surprise.
Looking ahead, MongoDB set next-quarter targets ahead of current analyst projections, while Oracle's guidance stopped significantly below the Street view.
Source Fool.com
