Shares of MongoDB Inc (NASDAQ:MDB) vaulted 30.1% to $278.95 at the open this morning, after the software company handily beat Q2 estimates with results of $1 per share on revenue of $591.4 million. The MACH Alliance member reported sizeable growth from its cloud database platform, Atlas, and added the highest number of yearly customers in its history. The New York-based organization now expects its fiscal 2026 revenue to land between $2.34 billion and $2.36 billion, around $70 million more than it had predicted earlier in the year.
With MDB showing no signs of slowing, today's rally would snap a two-day skid and set a new record for its best session ever. The stock is now up 21% year-to-date, recovering from a post-earnings bear gap in March that marked its worst-ever session. Former resistance at the $200 level has provided a floor for pullbacks since mid-June, while the 80-day moving average jumped in as support this month as well.
Following its sudden spike, most analysts are issuing bull notes. Wedbush Securities reiterated its outperform rating, while no fewer than 18 analysts lifted their price targets, including Barclays, Morgan Stanley, and UBS. Of the 39 analysts in coverage, 29 carry a "buy" or better rating.
Options traders are piling in on today's rally, with 70,000 calls and 55,000 puts exchanged, already 5.3 times the stock's average daily options volume. The most in demand contract is the weekly 8/29 300-strike call, followed by the 330- and 290-strike calls in the same series, with new positions opening at all three.
