MongoDB Stock Takes a Breather -- but Its Business Is Soaring
Shares of MongoDB (NASDAQ: MDB) fell sharply on Friday, declining about 10%. The pullback followed the cloud database management company's fiscal first-quarter report on Thursday afternoon. Despite both MongoDB's reported revenue and non-GAAP (adjusted) loss per share during the period crushing analysts' average forecasts, the Street responded by selling off shares.
Some investors may simply be taking a breather following huge gains so far in 2020. Year to date, the stock is up 53% -- and that's including Friday's pullback. This compares to the S&P 500's 1% decline over this same time frame.
MongoDB shareholders may want to think twice before they follow the Street's move to take profits on the stock. While shares are certainly pricier than they were earlier this year, this software-as-a-service stock's recent execution is impressive.
Source Fool.com
