5 Best SaaS Stocks to Buy and Hold for Long Term Profits

3. MongoDB, Inc. (NASDAQ: MDB)

Number of Hedge Fund Holders: 46

MongoDB, Inc. (NASDAQ: MDB) is a NoSQL database service that offers a host of Cloud-based database solutions for fully-managed Cloud database, database search products, database charts services, developer and enterprise services. MongoDB, Inc. (NASDAQ: MDB) has gained a whopping 65% year to date. In the first quarter of 2021, the company’s revenue jumped 39% to $181.6 million. Loss per share in the period came in at $0.15, beating the Street’s forecasts by $0.21.

For the second quarter, MongoDB, Inc. (NASDAQ: MDB)’s revenue forecast came in at $180 million to $183 million, compared to the consensus estimate of $181.01 million.

A total of 46 hedge funds tracked by Insider Monkey were bullish MDB at the end of the first quarter, up from 36 funds a quarter earlier.