MongoDB shares jump 11% after Q3 earnings beat estimates

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MongoDB shares jump 11% after Q3 earnings beat estimates

) on Monday reported a better-than-expected quarterly profit and revenue. Shares of the database software maker initially surged in extended trading but later reversed course, declining by roughly 3% after the earnings call.

"Excluding these deals, revs landed just slightly better than expected ," analysts highlighted.

"We believe results highlight improving execution, which combined with a stronger focus on higher growth potential enterprise customers, an expanding set of core and emerging growth drivers, and growth/ margin accretive investments," Stifel analysts commented.

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