As we draw curtains on first-quarter 2019, most of the discussions are centred on the technology sector’s impressive rebound. Notably, the Technology Select Sector SPDR (XLK) has returned 18.2% year to date, outperforming the S&P 500’s rally of 12%.

William Blair analyst Jason Ader initiated coverage of MongoDB with an Outperform saying he expects the company to post "strong" top-line growth for the next several years.

The signs of exhaustion in the major indices have given way to more and more breakouts.

The market is pleased with MongoDB. Its stock is currently trading at $75.20 with a market capitalization of $4.03 billion.

MongoDB went public in October last year when it raised $256 million by selling shares at $24 each. The stock has had a stellar run so far. It is currently trading at $81.55 with a market capitalization of $4.3 billion.