Why MongoDB's Stock Is Trading Higher Today

MongoDB Inc MDB is trading higher Friday morning after the database software company announced better-than-expected financial results. 

What Happened: MongoDB reported a first-quarter earnings loss of 15 cents per share, which beat the estimate for a loss of 37 cents per share. The company reported quarterly revenue of $181.6 million, which beat the estimate of $169.93 million. 

"These results are strong validation for a modern data application platform that empowers developers to rapidly build exible and highly scalable applications across a broad range of use cases," said Dev Ittycheria, president and CEO of MongoDB.

Related Link: MongoDB: Q1 Earnings Insights

Analyst Assessment: Needham analyst Jack Andrews maintained MongoDB with a Buy rating and raised the price target from $409 to $415.

Mizuho analyst Matthew Broome maintained MongoDB with a Neutral rating and raised the price target from $265 to $300.

UBS analyst Karl Keirstead maintained MongoDB with a Neutral rating and lowered the price target from $325 to $300.

Price Action: MongoDB has traded as high as $428.96 and as low as $186.27 over a 52-week period. 

At last check Friday, the stock was up 5.38% at $285.75.

Photo courtesy of MongoDB.