Why MongoDB Shares Fell 21% Last Month
Shares of MongoDB (NASDAQ: MDB) fell 20.9% in September 2019, according to data from S&P Global Market Intelligence. The database software developer's slide started with a merely solid earnings report that failed to excite investors.
MongoDB saw second-quarter sales rising 67% year over year, landing at $99.4 million. On the bottom line, net losses were reduced from $0.34 to $0.26 per diluted share. Your average Wall Street analyst would have settled for a net loss of $0.28 per share on revenues in the neighborhood of $91.7 million.
But the company's third-quarter earnings guidance was only in line with the analyst views at the time despite a slightly more optimistic revenue prognosis. For high-octane growth stocks like MongoDB, that's not always enough to preserve the stock's seat in Wall Street's nosebleed section. The stock plunged 17% over the next three days.
Source Fool.com
