Mongodibi is ready to add more than $ 5.2 billion to its .5 $ 17.51 billion market capitalization.
Generative AI applications demand large amounts of unstructured data, atlas, demand for cloud databases, which can quickly regain information and also process power chatbots, recommendations and search equipment.
As companies make and deploy more AI facilities, the use of AI-prepared databases and related services is increasing. This platform is translated into rapid income growth that integrates with major clouds and AI tools.
“Thanks to the restoration of market resources and product enhancement in artificial intelligence, we are encouraged by the strong-to-market motion of Mongodibi,” said Luke Yang, an analyst of Morningstar.
Living events
Analysts also said that sales resources will re -use Mongodibi’s largest customers to focus on enterprise clients.
The company increased its annual adjusted profit forecast between 64 3.64 and 73 3.73 per share, with its previous forecast of $ 2.94 per share. 3.12.
It expects that the revenue will be between $ 2.34 billion and $ 2.36 billion in the financial year ending January, up from $ 2.25 billion to $ 2.29 billion.
Both were above the estimates of Wall L Street forecasts.
More than 15 analysts raised their price target for stock. The average rating for the company’s shares is “bye”, with the average price target of 5 325.
Its shares trades 140.91 for snowflake and 58.6 times the profit estimates compared to 32.85 for Oracle.
(Now you can subscribe to our Etmarkets WhatsApp channel)
