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MongoDB (MDB) Teams Up With Google Cloud for AI Integration
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MongoDB (MDB - Free Report) has announced a collaboration with Alphabet’s (GOOGL - Free Report) Google Cloud to launch an initiative, which is aimed at facilitating the adoption of generative artificial intelligence (AI) and enabling the development of innovative applications.
MongoDB Atlas, the multi-cloud developer data platform widely used by customers and developers worldwide, will play a central role in this initiative. By leveraging its integrated operational data store, MongoDB Atlas will simplify and expedite the process of building generative AI-powered applications for organizations of all sizes.
Developers can now utilize MongoDB Atlas along with Google Cloud's Vertex AI large language models and benefit from quick-start architecture reviews provided by MongoDB and Google Cloud professional services. This collaboration aims to accelerate software development for developers.
The emergence of generative AI technology, such as Large Language Model, has unfolded exciting possibilities for transforming user interactions with applications. Developers are eager to harness the potential of generative AI to fuel their creativity and develop innovative applications.
MongoDB Atlas is a prominent developer data platform that operates across multiple cloud environments, streamlining and expediting the process of building applications with data. By offering a comprehensive range of data and application services within a unified environment, MongoDB Atlas empowers developer teams to swiftly create modern applications with the essential capabilities, performance and scalability.
MDB unveiled several new products and features for MongoDB Atlas. These additions aim to enhance the process of building modern applications for various use cases. The newly introduced feature includes MongoDB Atlas Vector Search, which utilizes generative AI capabilities for precise information retrieval and personalization.
Additionally, MongoDB Atlas Search Nodes provide dedicated resources for enterprise-scale search workloads. MongoDB Atlas Stream Processing facilitates the management of high-velocity streams of complex data. MongoDB Time Series collections have undergone significant scaling and efficiency improvements.
Lastly, MongoDB Atlas Data Federation empowers users to query data and isolate workloads on Microsoft Azure. Collectively, these advancements in MongoDB Atlas offer businesses the opportunity to enhance operational efficiency and accelerate innovation by consolidating diverse workloads on a single and comprehensive developer data platform across the organization.
The company expects total revenues between $388 million and $392 million in the second quarter of fiscal 2024. MDB’s non-GAAP net income per share is expected between 43 cents and 46 cents.
The Zacks Consensus Estimate for MDB’s second-quarter fiscal 2024 earnings is pegged at a profit of 41 cents per share. The Zacks Consensus Estimate for revenues is pegged at $384.68 million, indicating year-over-year growth of 26.68%.
Zacks Rank & Other Key Picks
Currently, MongoDB carries a Zacks Rank #2 (Buy).
Shares of MDB have gained 97.3% year to date compared with the Zacks Computer and Technology sector’s rise of 34.7% in the same time frame.
Shares of Dropbox have gained 18.1% year to date. The Zacks Consensus Estimate for DBX’s second-quarter 2023 revenues is pegged at $613.64 million, indicating year-over-year growth of 7.15%. The consensus mark for earnings is pegged at 45 cents per share, which has remained unchanged over the past 30 days.
Shares of BlackLine have declined 18.7% year to date. The Zacks Consensus Estimate for BL’s second-quarter 2023 revenues is pegged at $143.9 million, indicating year-over-year growth of 12%. The consensus mark for earnings is pegged at 28 cents per share, which has remained unchanged over the past 30 days.
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MongoDB (MDB) Teams Up With Google Cloud for AI Integration
MongoDB (MDB - Free Report) has announced a collaboration with Alphabet’s (GOOGL - Free Report) Google Cloud to launch an initiative, which is aimed at facilitating the adoption of generative artificial intelligence (AI) and enabling the development of innovative applications.
MongoDB Atlas, the multi-cloud developer data platform widely used by customers and developers worldwide, will play a central role in this initiative. By leveraging its integrated operational data store, MongoDB Atlas will simplify and expedite the process of building generative AI-powered applications for organizations of all sizes.
Developers can now utilize MongoDB Atlas along with Google Cloud's Vertex AI large language models and benefit from quick-start architecture reviews provided by MongoDB and Google Cloud professional services. This collaboration aims to accelerate software development for developers.
The emergence of generative AI technology, such as Large Language Model, has unfolded exciting possibilities for transforming user interactions with applications. Developers are eager to harness the potential of generative AI to fuel their creativity and develop innovative applications.
MongoDB, Inc. Price and Consensus
MongoDB, Inc. price-consensus-chart | MongoDB, Inc. Quote
MongoDB’s New Applications to Aid Top Line
MongoDB Atlas is a prominent developer data platform that operates across multiple cloud environments, streamlining and expediting the process of building applications with data. By offering a comprehensive range of data and application services within a unified environment, MongoDB Atlas empowers developer teams to swiftly create modern applications with the essential capabilities, performance and scalability.
MDB unveiled several new products and features for MongoDB Atlas. These additions aim to enhance the process of building modern applications for various use cases. The newly introduced feature includes MongoDB Atlas Vector Search, which utilizes generative AI capabilities for precise information retrieval and personalization.
Additionally, MongoDB Atlas Search Nodes provide dedicated resources for enterprise-scale search workloads. MongoDB Atlas Stream Processing facilitates the management of high-velocity streams of complex data. MongoDB Time Series collections have undergone significant scaling and efficiency improvements.
Lastly, MongoDB Atlas Data Federation empowers users to query data and isolate workloads on Microsoft Azure. Collectively, these advancements in MongoDB Atlas offer businesses the opportunity to enhance operational efficiency and accelerate innovation by consolidating diverse workloads on a single and comprehensive developer data platform across the organization.
The company expects total revenues between $388 million and $392 million in the second quarter of fiscal 2024. MDB’s non-GAAP net income per share is expected between 43 cents and 46 cents.
The Zacks Consensus Estimate for MDB’s second-quarter fiscal 2024 earnings is pegged at a profit of 41 cents per share. The Zacks Consensus Estimate for revenues is pegged at $384.68 million, indicating year-over-year growth of 26.68%.
Zacks Rank & Other Key Picks
Currently, MongoDB carries a Zacks Rank #2 (Buy).
Shares of MDB have gained 97.3% year to date compared with the Zacks Computer and Technology sector’s rise of 34.7% in the same time frame.
Some other top-ranked stocks from the broader sector, which investors can consider, are Dropbox (DBX - Free Report) and BlackLine (BL - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Dropbox have gained 18.1% year to date. The Zacks Consensus Estimate for DBX’s second-quarter 2023 revenues is pegged at $613.64 million, indicating year-over-year growth of 7.15%. The consensus mark for earnings is pegged at 45 cents per share, which has remained unchanged over the past 30 days.
Shares of BlackLine have declined 18.7% year to date. The Zacks Consensus Estimate for BL’s second-quarter 2023 revenues is pegged at $143.9 million, indicating year-over-year growth of 12%. The consensus mark for earnings is pegged at 28 cents per share, which has remained unchanged over the past 30 days.