MongoDB forecasts 20% Q4 sales growth, but a 17% EPS dip to $0.47, causing Wall Street concern; Citigroup analyst Tyler Radke maintains a "buy"
MongoDB, a database software provider, is expected to report a 20% sales growth in Q4 but a 17% dip in EPS to $0.47, causing Wall Street concern. Citigroup analyst Tyler Radke maintains a "buy" rating and raises the target price to $550, implying 34% upside. Despite MongoDB's high valuation and current negative GAAP profit, Radke suggests waiting for share price drops before buying, highlighting the company's long-term growth potential.
March 06, 2024
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