MongoDB announced better-than-expected first-quarter results
MongoDB Inc (NASDAQ:MDB) stock is up 17.1% at $233.84, after the data platform company reported better-than-expected first-quarter results and lifted its full-year forecast, citing strength in its cloud-based service. Monness Crespi Hardt upgraded the stock to "buy" from "neutral" after the earnings event, while no fewer than six analysts lifted their price targets -- though a couple threw in price-target cuts.
Today's pop has MDB trading at its highest level since March, though it still isn't fully recovered from its early-March post-earnings bear gap. The stock is also shooting above the $200 level, which provided resistance the past few months, though the 160-day moving average and year-to-date breakeven level appear to be keeping gains in check.
Over in the options pits, MDB has seen 53,000 calls and 33,000 puts exchanged, which is already five times the overall options volume it typically sees in an entire session. The weekly 6/6 250-strike call is the most popular, followed by the 240-strike call in the same series, with new positions opening at both.
The stock has tended to exceed options traders' volatility expectations over the past year, per its Schaeffer's Volatility Scorecard (SVS) of 93 out of 100.