We recently published 10 Stocks With Double-Digit to 100% Upside in Just a Week. MongoDB, Inc. (NASDAQ:MDB) is one of the worst performers on Friday.
MongoDB jumped by 44.07 percent week-on-week to touch a near nine-month high as investors gobbled up shares following a strong earnings performance in the second quarter of the year, supported by a higher price target from an investment firm.
On Friday alone, MongoDB, Inc. (NASDAQ:MDB) soared to as high as $321.92, its highest price in nearly nine months, representing a 47-percent jump from its closing price on August 22. The last time MongoDB, Inc. (NASDAQ:MDB) touched the said level was on December 10, 2024, when it hit $323.57.
In an updated report, MongoDB, Inc. (NASDAQ:MDB) said it narrowed its net loss during the period by 13.76 percent to $47 million from $54.5 million in the same period last year. Revenues increased by 23.7 percent to $591 million from $478 million.
In the first half, net loss decreased by 37 percent to $84.67 million from $135 million, while revenues grew by 22.7 percent to $1.14 billion from $929 million in the same comparable period.
Following the results, MongoDB, Inc. (NASDAQ:MDB) earned a higher price target of $265 from Macquarie, versus the $230 previously. However, the investment firm remained neutral on its stock.
According to Macquarie, MongoDB, Inc.’s (NASDAQ:MDB) strategic shift in its go-to-market approach appears to be gaining ground, as it now focuses on strategic accounts and winning higher-quality workloads.
While we acknowledge the potential of MDB as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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