MongoDB MDB has unveiled MongoDB Atlas for the Edge, comprising features that simplify the deployment of applications in proximity to where real-time data is generated, processed and stored. These deployments can span across various devices, on-site data centers and major cloud platforms.
With MongoDB Atlas for the Edge, data is securely stored and continuously synchronized between data sources and destinations, ensuring the availability, resilience and reliability of applications. Organizations can now utilize MongoDB Atlas for the Edge to create, deploy and oversee applications that can be accessed from nearly anywhere.
These new features simplify the process, allowing for the development, control and deployment of distributed applications that can securely utilize real-time data both in the cloud and at the edge.
With MongoDB Atlas for the Edge, organizations can now use a unified interface to offer a consistent and smooth development experience from the edge to the cloud and everything in between. This includes the capability to create distributed applications that can handle, analyze and synchronize virtually any data type across various locations. It is expected to aid top-line growth as well as the number of customers in the upcoming quarter.
The Zacks Consensus Estimate for MDB’s fiscal 2024 revenues is pegged at $1.61 billion, indicating year-over-year growth of 48.34%. The Zacks Consensus Estimate for total customers is pegged at 47,871, indicating a year-over-year increase of 17.3%.
MongoDB, Inc. Price and Consensus
MongoDB, Inc. price-consensus-chart | MongoDB, Inc. Quote
MongoDB Faces Tough Competition in the Data Management Market
Cloud databases provide cost-effective, flexible and scalable solutions for companies looking to simplify data management. These offer easy accessibility, quick data recovery and enhanced security features, making these cloud databases a valuable alternative for businesses seeking efficient data storage and management solutions.
According to a MMR report, the Cloud Database Market was valued at $10.13 billion in 2022 and it is expected to reach $47.93 billion by 2029, exhibiting a CAGR of 24.85% during the forecast period (2023-2029). The leading database providers include Amazon’s AMZN division, Amazon Web Services (“AWS”), SAP SAP and Oracle ORCL.
Amazon provides a diverse range of cloud database services, encompassing both NoSQL and Relational Database Service (RDS). Amazon RDS operates on Oracle, SQL or MySQL server instances. In contrast, Amazon SimpleDB is a schema-less database designed for handling smaller workloads. On the NoSQL side, Amazon DynamoDB stands out as a solid-state drive-powered database that autonomously replicates workloads across three separate availability zones.
SAP, a leading provider of enterprise software, has introduced a cloud database platform called HANA to enhance an organization's on-premises database tools. SAP HANA complements various database tools like Sybase and it is accessible on the AWS cloud.
Oracle’s relational database is ideal for rapid data storage and retrieval in cloud environments. It is well-suited for storing data used in online transaction processing. Nonetheless, a significant challenge lies in securely restoring and maintaining the integrity of this data.
MongoDB, which currently carries a Zacks Rank #3 (Hold), has developed an encryption technology that gives the freedom to review the cryptographic methods and the code used in this mechanism.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of MDB have gained 65.3% year to date compared with the Zacks Computer and Technology sector’s rise of 33.1% due to the general availability of this end-to-end data encryption technology.
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