MongoDB (MDB) is one of the leading next-generation database technologies in the software industry. The company has transformed itself from a niche segment of document database to a comprehensive general-purpose product. Due to its open-source nature, the company has a following among developers. The service is quickly becoming an interesting alternative to legacy Oracle and Microsoft SQL Server databases.

The MongoDB architecture includes the following elements:

• mongo – an interactive shell responsible for reading, inserting, updating, and deleting data. It also allows the developer to customize replication (copying data between cluster nodes) and data segmentation (splitting large data sets into parts to process each part separately);
• mongostat is a tool that allows you to output statistics for an executable MongoDB instance (e.g., count the number of inserts, deletes, and resource consumption of the instance);
• mongotop is a tool responsible for counting the query execution time at the level of each data collection;
• mongosniff is a service that provides capturing and saving query commands to automatically replay them when they are accessed again.

Shares of software company MongoDB Inc. (NASDAQ: MDB) got a positive boost from a comment from investment bank Morgan Stanley. The company is expected to further increase its market share and reach profitability.

According to analysts at Morgan Stanley, MongoDB has room to expand its business in the coming quarters. A survey conducted by Morgan Stanley found that 73% of respondents are actively optimizing their cloud IT. This creates an opportunity for MongoDB to attract new customers and capture more market share. That said, in 2024, most of the pressures on MongoDB’s business will disappear, according to Morgan Stanley. In particular, we are talking about inflation and suspension of IT infrastructure modernization by different organizations. Against this background, Morgan Stanley raised its recommendation on MDB stock to “above market” and increased the target price from $230 to $270.

Over the year, the price of one MongoDB Inc. share changed by 53.39%, which was $113.70. The current price (February 2024) is $326.68 per share.

The official value of MDB as of the end of 2023 is $327, the trading volume is $579,794.94, the maximum price is $347.64, the minimum price is $325, over the past day the price change is 2.1%, over the month, is 0%, over the year is 48.13%.

MongoDB is a cloud software development company. Its customers include Boots UK, Forbes, Keller Williams, Travelers, Verizon (VZ), Vodafone (VOD), and Wells Fargo (WFC). The company’s product line includes MongoDB Enterprise Advanced, a commercial database server that customers can run in the cloud, on-premises, and in hybrid environments.

Despite the uncertainty surrounding the 2023 market, revenue grew 57% year-over-year to $285.4 million.

The company achieved this result due to an 82% increase in sales in the Atlas segment. Gross margin was 75% compared to 72% in the third quarter of fiscal 2022. Adjusted operating income for the quarter increased 6 times to $17.5 million. MongoDB’s adjusted net income increased to $15.2 million, or $0.20 per share, compared to a loss of $3.9 million, or $0.06 per share.

MongoDB History

According to the DB-Engines portal rating, MongoDB is one of the five most popular DBMSs in the world. So what is it and where did it come from? Let’s find out!

MongoDB is one of the top 5 popular DBMSs, guaranteeing security, availability, and scalability. It refers to document management systems that use JSON format for storage.

MongoDB is a document-oriented non-relational DBMS. It is distributed under the SSPL license and is open source.

MongoDB was developed by specialists of the highest level. For example, they are the founders of DoubleClick, a company that specializes in online advertising. DoubleClick had a display speed of 400,000 ads per second, which was unthinkable at that time.

The company was sold to Google in 2005. After that, the development team was able to focus on a new project. At that time, databases did not have a clear structure. The information fragments stored in them were not interconnected in any way. Thus, the databases were not flexible and scalable enough. The developers created the company 10gen, which was later named MongoDB Inc.

The development of MongoDB began in 2007 by 10gen. In 2009, the company switched to an open-source product development model. On February 11, 2009, the first version of MongoDB 1.0 was released. On August 27, 2013, 10gen changed its name to MongoDB, Inc. On October 20, 2017, MongoDB became a public company that existed freely on the stock market. P

MongoDB Logo

The logo of MongoDB looks very fresh yet simple, which completely follows the latest trends in visual identity design. It he badge is based on the lowercase lettering in a classy serif typeface with medium-thick bars of the characters and quite large elongated serifs. The black and/or (depending on the placement) gray inscription is accompanied by a laconic green emblem, depicting a vertically drawn leaf in two shades. It does represent the new beginning, success, and, of course, the progressive approach of the company and its product.

Conclusion

MongoDB, a document-oriented non-relational DBMS, has carved a niche for itself as a leading database management system with a document-oriented data model. Distributed under the SSPL license, MongoDB is an open-source innovation that transcends the traditional requirements of tables, schemas, or a separate query language found in relational DBMSs. Its storage format, based on documents or collections, facilitates a seamless provision of a general-purpose database platform that caters to a growing variety of modern application requirements.

The development and widespread adoption of MongoDB have been significantly influenced by its founders, who were already quite reputable in the IT world. Notably, they established DoubleClick in the early 2000s, a pioneer in online advertising that achieved remarkable ad delivery speeds. Following their success and subsequent sale of DoubleClick to Google, they addressed the pressing issues of database structure and scalability that plagued the early 2000s, leading to the creation of 10gen, which was later rebranded as MongoDB Inc. This move underscored their commitment to innovation and the development of MongoDB’s database as a robust solution for data management.

MongoDB Inc., headquartered in New York (NY), has positioned MongoDB as a versatile bridge between classical DBMS and the dynamic world of NoSQL databases. This strategic positioning is bolstered by MongoDB Atlas, the company’s flagship managed multi-cloud database-as-a-service offering, which underscores MongoDB’s commitment to providing a comprehensive system for data management across a hybrid environment. The company’s commitment to professional services, consulting, and the development of related services further enhances its value proposition to enterprise customers and developers alike.

The introduction of MongoDB has revolutionized the way developers and enterprises approach data management, with its adoption showcasing a notable reliance on MongoDB for a variety of use cases. Its community server and commercial offerings, including subscriptions and licenses, cater to both free users and those requiring more sophisticated, managed offerings. MongoDB’s alignment with major programming languages and its compatibility with a wide range of industries underline its versatility and broad applicability.

MongoDB’s market presence is not just about providing a developer data platform company but extends to creating an integrated set of databases that support the complex needs of development teams. The company’s core offerings, enhanced by a suite of managed and self-managed services, reflect a deep understanding of the challenges faced by modern application development, ensuring default security and backup functionalities that meet the comprehensive needs of its users.

As MongoDB continues to expand its footprint, the firm’s products have garnered attention from top Wall Street analysts, with MongoDB’s database platform achieving significant milestones, including a robust market capitalization and attention from industry insiders. The insights provided by analysts, such as Rishi Jaluria’s trades, offer a glimpse into the firm’s performance, including buy, sell, and hold ratings that indicate MongoDB’s potential for earnings and its place within the competitive landscape of technology investments.

In summary, MongoDB Inc. represents a blend of innovation, strategic market positioning, and a commitment to serving the needs of a diverse customer base, from developers seeking a robust database solution to enterprise customers navigating the complexities of modern application requirements. Its continued growth and adaptation to market demands underscore its relevance and potential for those looking to invest in or utilize a leading document-oriented database platform.