MongoDB Shares Leap 13% on Increased View for Full Year

Dow Jones08-30

Shares of MongoDB jumped in late trading after the company raised its outlook for the year on a rebound for its key Atlas product.

The stock rose 13%, to $278.2, in after-hours trading. It closed the regular trading session at $246.72, down nearly 40% for the year.

The database-software company raised its view for the year after second-quarter results topped expectations. CEO Dev Ittcheria noted that the company experienced better-than-consumption trends for Atlas, a managed multi-cloud database-as-a-service offering, in the quarter. In May, the company warned that it expected a slower-than-expected start to the year for the product.

MongoDB's guidance for the third-quarter also came in above Wall Street expectations, according to FactSet.

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nywles
08-30
nywles
Thanks

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