MongoDB set to report Q2 this week, with Atlas expected to remain the star
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MongoDB (NASDAQ:MDB) is set to report second-quarter results on August 31 and investment firm Monness, Crespi, Hardt believes that the database company's Atlas service will be the star of the show.
Analyst Brian White, who has a neutral rating on MongoDB (MDB), noted that demand for next-generation databases are still "firmly in place" and it's likely that the company could handily beat expectations. 
"We believe the Streetâs estimates are overly conservative," White wrote in a note to clients.
The analyst added that Wall Street's second-quarter revenue estimate "reflects the weakest [quarter-over-quarter] revenue performance we have on record for MongoDB," which even in the current environment, "defies logic" given the company's past history. 
White estimates MongoDB (MDB) will earn an adjusted 11 cents per share on $315M in revenue, up 58% year-over-year, thanks to 59% growth in Atlas subscription revenue.
A consensus of analysts estimate MongoDB (MDB) will lose 28 cents per share on $282.31M in sales.
While growth could decelerate for MongoDB (MDB), given slowing growth for the cloud hyperscalers such as Amazon (AMZN), Google (GOOG) (GOOGL), Microsoft (MSFT), it's not likely to be as bad as Wall Street is expecting.
Looking ahead to the next quarter, White believes that MongoDB (MDB) will generate $358.9M in revenue and earnings of 19 cents per share. For the full-year, MongoDB (MDB) is expected to generate between $1.172B and $1.192B in revenue.
Earlier this month, investment firm RBC said that MongoDB (MDB) was one of the top stock picks when the economy emerges from a possible recession.