12 Best Big Data Stocks To Buy According to Hedge Funds

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7. MongoDB, Inc. (NASDAQ:MDB)

Number of Hedge Fund Holders: 49

MongoDB, Inc. (NASDAQ:MDB) empowers innovators to create, transform, and disrupt industries by unleashing the power of software and data. The firm’s developer data platform is a database with an integrated set of related services that enables development teams to cater to the growing requirements for a wide variety of modern applications. MongoDB is headquartered in New York.

MongoDB serves as the preferred database for developers across multiple industries due to the flexibility of the document model and its scale-out architecture. The MongoDB database platform has been downloaded hundreds of millions of times since 2007. The firm is pursuing a large opportunity in the data management software market which is forecasted to grow over the coming years.

The foundational concept backing up MongoDB’s developer data platform is to solve the most challenges around enterprise data including the unification of data across multiple applications, complexity with multitudes of workload-specific tools and technologies, data synchronization, vendor lock-in for proprietary formats, and duplicate efforts across cloud platforms.

In the recent quarter, MongoDB, Inc. (NASDAQ:MDB) made the MongoDB AI Applications Program (MAAP) generally available to customers. Simultaneously, MongoDB has been an important partner to hyperscalers globally as it was named Amazon Web Services’s (AWS) Technology Partner of the Year in Taiwan, AWS’s Global Software Partner of the Year in ASEAN, and Microsoft’s Global ISV Partner of the Year in Spain. As of Q3, the stock is held by 49 hedge funds.

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