MongoDB Finishes Fiscal 2022 With Strong Queries and No Worries in its Q4; FVE Up to $344

No-moat MongoDB closed fiscal 2022 with strong fourth-quarter results nicely above our expectations, while also providing rosier guidance for the year ahead than we were baking in. Revenue outperformance was led by strength in Atlas, MongoDB’s database as a service offering. MongoDB has a long runway for growth within the database market, providing high-quality software to clients that increase efficiency and expand use-case capability. Most significantly, the firm has grown its presence as a mission-critical service as more clients migrate workloads to the cloud.