MongoDB (MDB) Reports Earnings Tomorrow: What To Expect

Database software company MongoDB (MDB) will be reporting earnings tomorrow after the bell. Here’s what investors should know.

MongoDB beat analysts’ revenue expectations by 2.4% last quarter, reporting revenues of $450.6 million, up 22.3% year on year. It was a weak quarter for the company, with underwhelming revenue guidance for the next quarter and a miss of analysts’ billings estimates. It added 85 enterprise customers paying more than $100,000 annually to reach a total of 2,137.

Is MongoDB a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting MongoDB’s revenue to grow 9.5% year on year to $464.2 million, slowing from the 39.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.48 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. MongoDB has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 6.7% on average.

Looking at MongoDB’s peers in the data storage segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Commvault Systems delivered year-on-year revenue growth of 13.4%, beating analysts’ expectations by 4.2%, and DigitalOcean reported revenues up 13.3%, topping estimates by 2%. Commvault Systems traded up 24.1% following the results while DigitalOcean was also up 11.9%.

Read our full analysis of Commvault Systems’s results here and DigitalOcean’s results here.

Investors in the data storage segment have had steady hands going into earnings, with share prices flat over the last month. MongoDB is down 2.8% during the same time and is heading into earnings with an average analyst price target of $305.1 (compared to the current share price of $238.5).

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