Cloud Stocks: MongoDB Has Huge Room To Grow In $97B Market

MongoDB has been a DBaaS force to reckon with. Its non-relational, document database Atlas allows developers to quickly store large amounts of unstructured data, improving operational efficiency and database performance and enabling enterprises to launch applications more quickly. Microsoft and Oracle have both tried to copy MongoDB’s non-relational document model for their databases. I had even recommended that Oracle should acquire MongoDB. Developers remain loyal to MongoDB, and Oracle’s attempts to grow in the market have not borne good results.

According to a DB Engines popularity ranking, MongoDB is the fifth most popular database behind Oracle, MySQL, Microsoft SQL Server, and Postgre SQL. Although it is fifth, it is the only document database on the list. Database customers are typically very sticky customers, and for MongoDB to attract a following of this magnitude against rivals like Oracle and Microsoft is a tremendous feat.

MongoDB’s management rightly believes that there is still significant room to grow. It estimates that it has a $97 billion market opportunity by 2023. With $720 million annual revenues forecast for the current year, there clearly is a lot of room for growth. Its continued partnerships and product upgrades will help it make bigger inroads into this space.

Its stock is currently trading at $301.34 with a market capitalization of $18.16 billion. It touched a 52-week high of $428.96 in February. It was trading at a 52-week low of $96 in March last year.

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Disclosure: All investors should make their own assessments based on their own research, informed interpretations and risk appetite. This article expresses my own opinions based on my own ...

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