MongoDB Shares Up 16% on Strong Q3 Results

MongoDB, Inc. (NASDAQ:MDB) shares closed more than 16% higher on Tuesday following the company’s reported Q3 results, with EPS coming in at ($0.11), better than the consensus estimate of ($0.38). Quarterly revenue of $226.9 million beat the consensus estimate of $205.3 million, driven by impressive Atlas growth, controlled OpEx, and rising enterprise adoption.

Analysts at Oppenheimer continue to view Atlas as the major driver of the company’s growth and believe the accelerating consumption among existing enterprise customers can continue to drive impressive growth.