Jim Cramer’s Bold Predictions About These 10 SaaS Stocks

7. MongoDB, Inc. (NASDAQ:MDB)

Number of Hedge Fund Holders In Q3 2024: 49

Date of Cramer’s Comments: 9-12-24

Performance Since Then: 20.6%

MongoDB Inc. (NASDAQ:MDB) is a specialty SaaS firm that is also known as a Database-as-a-software (DaaS) firm. The year’s second half has been topsy turvy for the firm’s stock. MongoDB Inc. (NASDAQ:MDB)’s shares soared by 23% at August end when the firm’s $478 million in revenue and 78 cents in EPS beat analyst estimates of $464 million and 49 cents. It also guided fiscal Q3 revenue at a midpoint of $493 million and EPS at 66.5 cents to also beat estimates. However, the shares fell by a whopping 16.9% in December when despite a guidance raise the firm’s announcement that its CFO and COO would leave roiled investors. Here’s what Cramer said in September:

“You know, MongoDB, Inc.(NASDAQ:MDB) is an enterprise software company that put up terrific numbers and isn’t getting credit in the same way Salesforce.com, inc. (NYSE:CRM) and others are. People tend to dislike enterprise software, except for ServiceNow. I think MongoDB, Inc. (NASDAQ:MDB) is at the right price.”