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MARKETS LIVE BLOG:

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MongoDB stock declines despite Q4 earnings beat

Yahoo Finance

Yahoo Finance Live’s Julie Hyman breaks down the decline in stock for MongoDB.

Video Transcript

JULIE HYMAN: And let's talk your trending ticker there. Shares of MongoDB, they are trending. And they're down sharply despite a beat on the top and bottom line.

By the way, the stock was down much more earlier. The company did see near record direct sales, net ads, and profitability, overshadowed by the infrastructure software company's outlook. It reported lower-than-expected revenue forecast for the first quarter and full-year fiscal 2024. Most of the analyst commentary I have seen around MongoDB has been relatively positive, though, which I guess accounts for the stock now coming back from the lows.