Did anyone see the news about Elsevier migrating to MDB? Interesting reading.
https://investors.mongodb.com/news-releases/news-release-det…
Biggest takeaway from Kim Baddeley from Elsevier:
“Strategically we are looking to embrace software as a service across our entire computing estate, rather than operate everything ourselves. Experience shows us that this helps us move faster and focus on our apps, rather than back end database operations.”
MDB was getting crushed this morning but it closed up 8.3%. Just unbelievable how strong it has performed in this environment. It’s up 30% since October 22nd. Today it traded on very high volume and closed above $90. It’s been fighting resistance for a while now. Is this finally its breakout?
They’re hitting on all cylinders especially when you see them working with big data companies like Elsevier.
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OT-ish, but I noted a big move higher that started at about 3:25 or 3:26 today up to over $92, that was then partially given back with it settling at about $91. Looked like it might have started as a small move that then triggered some heavy volume (maybe/likely algo/momentum trading).
That is merely a short term price movement and not super relevant. More relevant is that their guidance for next quarter, if beat by merely $5M will indicate revenue growth accelerating to something like 70%. Hyper-growth, a TAM that is HUGE, with increasing applications for unstructured data that will fit into noSQL databases better than into SQL. That level of revenue growth would contribute to quite a nice “Rule of 40” number, which would factor into my under-development new valuation metric. Here’s the post on NPI about it:
https://discussion.fool.com/work-in-progress-valuation-methodolo…
If the overall market isn’t totally crappy in the next few weeks, I won’t be surprised if MDB challenges $100/share very soon.
volfan84
LOOOONNNNNNGGG MDB, maybe with the 2nd highest % allocation of anyone not named Tinker
Long continually improving in evaluating companies’ businesses
5 Likes
MDB was getting crushed this morning but it closed up 8.3%. Just unbelievable how strong it has performed in this environment. It’s up 30% since October 22nd. Today it traded on very high volume and closed above $90. It’s been fighting resistance for a while now. Is this finally its breakout?
They reported earnings on 11/4 AMC and yesterday the market was closed. I’m not surprised that it was up today after the great beat and raise report.
Chris
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Bert has pointed out (I believe based on the conf call transcript) that at-least in some applications, MDB Atlas is being in place of traditional SQL database.
And that there was a well known analyst on the call asking question and comparing MDB’s growth to Oracle’s growth in Oracle’s early days.
Point being that MDB certainly carries higher level of confidence among big money investors than may be any other high growth stock (even in Saul’s universe).
Which is why it’s price has been sustaining at higher end through this volatile market.
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