We recently published 10 Stocks With Easy 7-38% Upside in Just a Day. MongoDB, Inc. (NASDAQ:MDB) is one of the best performers on Wednesday.
MongoDB soared by 37.96 percent on Wednesday to close at $295.70 apiece as investor sentiment was bolstered by its impressive earnings performance in the second quarter of the year and a higher price target from an investment firm.
In an updated report, MongoDB, Inc. (NASDAQ:MDB) said net loss narrowed 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 narrowed 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 for 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.
