Another quarterly report, another post-earnings pop from MongoDB Inc (NASDAQ:MDB). The stock is up 25.9% to trade at $414.08, after the software company reported adjusted third-quarter earnings $1.32 per share on $628.3 million in revenue, both of which easily exceeded estimates.
MongoDB also hiked its full-year forecast amid increased usage on its cloud database platform Atlas, an indicator of robust AI demand. In response to the triple play, at least 25 brokerages have lifted their price targets, the highest coming from Morgan Stanley to $670.
This is poised to be MDB's best single-session pop since Aug. 27, another post-earnings melt up. The shares are now up 79% in 2025 and earlier hit an 18-month high of $419.50 out of the gate. Prior to today's breakout, the stock had support in place at its 80-day moving average.
The equity could have room to run. With short interest up 31.8% in the two most recent reporting periods and a healthy 5% of the stock's total available float sold short, an exodus of bearish bettors could provide tailwinds.
Options traders have been betting bearishly leading up to the event. The stock's 10-day put/call volume ratio of 1.19 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) sits higher than 94% of readings from the past year. Echoing this, MDB's Schaeffer's put/call open interest ratio (SOIR) of 1.21 stands in the 74th percentile of annual readings.
Today, 81,000 contracts have changed hands, volume that's 16 times the average intraday amount. The weekly 12/5 400-strike put is the most popular, with sell-to-open activity detected.
