MongoDB (MDB) and Microsoft Sign Global Strategic Partnership

MongoDB MDB announced a substantial expansion of its strategic partnership agreement with Microsoft MSFT. The two companies are collaborating to facilitate customers' cloud adoption journeys, with initiatives like improved accessibility to MongoDB Atlas through the Microsoft commercial marketplace. This partnership will enable millions of developers using the Azure portal to easily discover and utilize MongoDB Atlas.

Under the agreement, MongoDB and Microsoft will collaborate to improve the customer experience of MongoDB Atlas on Azure, delivering go-to-market initiatives, developer enablement programs and training programs. Moreover, the two companies will strengthen the technology integrations to enhance the services it offers to its shared customers.

This strategic partnership builds upon previous collaborations between MDB and MSFT, including the introduction of a pay-as-you-go MongoDB Atlas offering. Currently, MongoDB Atlas seamlessly integrates with various Microsoft services, such as Azure Synapse Analytics, Azure Event Hub, Microsoft Power BI, Microsoft Purview, Azure Logic Apps and Microsoft Power Automate.

The emergence of generative artificial intelligence (AI) technology, such as Large Language Model, has unfolded exciting possibilities for transforming user interactions with applications. Developers are eager to harness the potential of generative AI to fuel their creativity and develop innovative applications.

MongoDB, Inc. Price and Consensus

 

MongoDB, Inc. Price and Consensus

MongoDB, Inc. price-consensus-chart | MongoDB, Inc. Quote

 

MongoDB’s Other Partnerships to Aid Customer Growth

MongoDB has entered into some notable partnerships recently. These partnerships are expected to boost the company’s customer growth, thereby driving subscription revenues in the upcoming quarters.

The Zacks Consensus Estimate for MDB’s second-quarter fiscal 2024 customers is pegged at 44,533, indicating year-over-year growth of 20.35%. The Zacks Consensus Estimate for subscription revenues is pegged at $371.3 million, indicating year-over-year growth of 27.32%.

Shares of this Zacks Rank #2 (Buy) company have gained 116.4% year to date compared with the Zacks Computer and Technology sector’s rise of 41.6% in the same time frame.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

MongoDB has been witnessing growth in the number of customers in the last few quarters. This trend is expected to continue in the second quarter of fiscal 2024.

Some of the notable partnerships driving customer growth include giant companies like Alphabet GOOGL and Alibaba BABA.

MDB recently announced a partnership with Google Cloud to promote generative AI adoption and app development. MongoDB Atlas, a multi-cloud data platform, simplifies building and scaling generative AI-powered applications. Integration with Google Cloud's Vertex AI large language models enables faster software development. Quick-start architecture reviews with MongoDB and Google Cloud professional services to accelerate software development. The collaboration aims to foster innovation in AI-driven applications.

MongoDB and Alibaba Cloud have extended its strategic global partnership for four more years. The partnership allows customers to access MongoDB-as-a-service, ApsaraDB for MongoDB, from Alibaba Cloud's data centers worldwide. This enables customers to efficiently build large-scale modern applications. The collaboration aims to integrate MongoDB and Alibaba Cloud services to cater to customers in various industries, including gaming, automotive and content development, on a global scale.

The company introduced MongoDB Atlas for Public Sector, which is aimed at aiding government agencies and public organizations in driving innovation and delivering data-driven applications. Additionally, public sector organizations can access architectural design reviews, tailored technology partnerships and customized technology training through knowledge accelerators to enhance their capabilities.



 

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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