Home > MongoDB Is Soaring – Here’s Where to Buy This Hot Cloud Stock

MongoDB Is Soaring – Here’s Where to Buy This Hot Cloud Stock

MongoDB is a cloud-based database with a 44% YoY price increase and 140% in one year. Its flagship product, Atlas, is the cash cow.

If you are currently considering tech stocks for your portfolio, MongoDB may be the right one to invest in right now. In short, this US-based company develops software that allows its clients to create digital infrastructure. In today’s internet-based society, MongoDB may be a lucrative opportunity – and investors haven’t failed to notice it so far, given its 140% share price increase in the past year.

Let’s find out more about MongoDB and why it has increased by 140% in only one year – and up 26.33% on the last trading day of last week.

How & Where to Buy MongoDB Stock Online

If you want to trade this stock affordably and with maximum convenience, MongoDB Inc. (NASDAQ: MDB) shares can be bought via one of the online brokers below:

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What Is MongoDB?

MongoDB develops market-leading software compatible with major cloud service providers, including Google, Amazon, and Microsoft. The company benefits from increasing revenues as more and more companies move their operations to the cloud. The main product, Atlas cloud database, brings more than half of the company’s revenues.

Should I Buy MongoDB Today?

MongoDB is a fast-growing tech company that serves both incumbents like Toyota, Verizon, and AT&T and startups like DataRobot. MongoDB’s excellent performance is not really a surprise – the company was valued at $1.2 billion at the time of its IPO in 2017. Now, the open-source enterprise is worth more than $30 billion.

MongoDB’s stock was in focus last week as the company released its earnings report. Revenues reached $199 million, an increase of 44% compared to last year. This was driven by strong customer growth while the flagship product, Atlas, generated 83% more revenues YoY. But is this enough to keep MongoDB profitable in such a competitive industry?

MongoDB Price Prediction 2021

Currently, MongoDB trades at $507.41. Analysts estimate a high target of $534 in the next 12 months and a low of $410.

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