MongoDB Gains On Improved Q4 Revenue, FY23 Projections

MongoDB, Inc. (MDB) shares are trading more than 13 percent on Wednesday morning trade after the company reported growth in fourth-quarter revenues. The company also expects a narrower loss than analysts' view for fiscal 2023.

The company reported quarterly revenue of $266.49 million compared to $170.99 million in the prior year.

For fiscal 2023, the current projection of adjusted net loss is $0.51-$0.29 per share on revenue of $1.151 billion - $1.181 billion. Analysts are looking for loss of $0.60 on revenue of $1.15 billion.

The shares are currently at $321.11, up 13.97 percent on a volume of 1,177,511. For the 52-week period, the shares have traded in a range of 1,135,318.

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