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Fly News Breaks for January 6, 2020
MDB
Jan 6, 2020 | 07:35 EDT
Argus analyst Joseph Bonner initiated coverage of MongoDB with a near-term Hold rating and a long-term Buy rating. The company is growing revenue at a 50%-60% rate, but is not yet profitable on either a GAAP or a non-GAAP basis, Bonner tells investors in a research note. The valuation is "quite high for this small but fast-growing company," adds the analyst. However, he believes MongoDB could become a "disrupter" in the large enterprise database software market.
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