RBC starts Oracle at Neutral on competition concerns [Yahoo! Finance]
MongoDB, Inc. - Class A (MDB)
Last mongodb, inc. - class a earnings: 3/17 04:05 pm
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US:NASDAQ Investor Relations:
investors.mongodb.com/investor-relations
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Source: Yahoo! Finance
"While we like Oracle's market leadership position in database and ongoing cloud transformation, we have concerns about competition and the sustainability of some recent growth drivers, particularly OCI and GenAI," RBC wrote. Oracle's core database business remains a key asset, according to the bank, but they believe it faces mounting challenges from multiple fronts. Competition on multiple fronts continues to get stronger, including hyperscale cloud vendors (AWS/Azure/GCP), MongoDB (NASDAQ:MDB), PostgreSQL, and NewSQL vendors, RBC noted. The firm added that while pricing may support growth, Oracle's net new workload growth could be limited moving forward. Oracle Cloud Infrastructure (OCI) has shown impressive growth, reaching $8.6 billion in annual recurring revenue (ARR) with a 54% growth rate, according to RBC estimates. However, analysts remain cautious about the future of OCI. "We have concerns over the sustainability of this growth, especially for non-Oracle custome
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MDB
Earnings
- 8/29/24 - Beat
MDB
Sec Filings
- 11/20/24 - Form 8-K
- 11/19/24 - Form 4
- 11/18/24 - Form 4
- MDB's page on the SEC website