Shares of MongoDB (NASDAQ: MDB) popped by as much as 23.9% this week, according to data from S&P Global Market Intelligence. The developer data platform, which is trying to disrupt the database market, put up impressive growth in its Q3 earnings report; this caused investors to bid up its shares. Revenue grew an impressive 47% year over year to $333.6 million, handily beating analyst expectations of $303.4 million heading into the report.
The 2022 Nasdaq Composite bear market undermined investors' confidence in many tech-focused stocks. Crowdstrike Holdings (NASDAQ: CRWD) and MongoDB (NASDAQ: MDB), for example, are two companies delivering growth regardless of how the macro economy performs. Let's take a look at why these two Nasdaq stocks have what it takes to carry your portfolio going forward.
Tech stocks had a good day on Thursday as investors start to get more bullish on the industry's future. The Nasdaq Composite was up 0.9% at 2:20 p.m. ET, outpacing the Dow Jones Industrial Average and S&P 500 by a wide margin. MongoDB (NASDAQ: MDB) jumped as much as 9%, Atlassian (NASDAQ: TEAM) was up 10.3% at its peak, Datadog (NASDAQ: DDOG) was up 10.2%, HubSpot (NYSE: HUBS) rose 6.6%, and Wix.com (NASDAQ: WIX) popped 5.4%.