As the Q1 earnings season wraps, let’s dig into this quarter’s best and worst performers in the data storage industry, including MongoDB (NASDAQ: MDB) and its peers.
Data is the lifeblood of the internet and software in general, and the amount of data created is accelerating. As a result, the importance of storing the data in scalable and efficient formats continues to rise, especially as its diversity and associated use cases expand from analyzing simple, structured datasets to high-scale processing of unstructured data such as images, audio, and video.
The 4 data storage stocks we track reported a satisfactory Q1. As a group, revenues beat analysts’ consensus estimates by 3.4% while next quarter’s revenue guidance was 4.6% above.
Luckily, data storage stocks have performed well with share prices up 35.7% on average since the latest earnings results.
MongoDB (NASDAQ: MDB)
Named after "humongous database," reflecting its ability to handle massive data loads, MongoDB (NASDAQ: MDB) provides a flexible document-based database platform that helps developers build, deploy, and maintain modern applications more efficiently.
MongoDB reported revenues of $687.6 million, up 25.2% year on year. This print exceeded analysts’ expectations by 3.5%. Overall, it was a very strong quarter for the company with a solid beat of analysts’ billings estimates and EPS guidance for next quarter exceeding analysts’ expectations.
MongoDB delivered the weakest guidance update of the whole group. The company added 96 enterprise customers paying more than $100,000 annually to reach a total of 2,895. Interestingly, the stock is up 8.7% since reporting and currently trades at $354.00.
Is now the time to buy MongoDB? Access our full analysis of the earnings results here, it’s free.
Best Q1: DigitalOcean (NYSE: DOCN)
Built for simplicity in a world of complex cloud solutions, DigitalOcean (NYSE: DOCN) provides a simplified cloud computing platform that enables developers and small businesses to quickly deploy and scale applications.
DigitalOcean reported revenues of $257.9 million, up 22.4% year on year, outperforming analysts’ expectations by 3.3%. The business had a very strong quarter with an impressive beat of analysts’ EBITDA estimates and full-year EPS guidance exceeding analysts’ expectations.
DigitalOcean scored the highest guidance raise and highest full-year guidance raise among its peers. The market seems happy with the results as the stock is up 18.1% since reporting. It currently trades at $128.47.
Is now the time to buy DigitalOcean? Access our full analysis of the earnings results here, it’s free.
Snowflake (NYSE: SNOW)
Named after the unique architecture of its data warehouse which resembles a snowflake pattern, Snowflake (NYSE: SNOW) provides a cloud-based data platform that enables organizations to consolidate, analyze, and share data across multiple cloud providers.
Snowflake reported revenues of $1.39 billion, up 33.5% year on year, exceeding analysts’ expectations by 5%. Still, it was a slower quarter as it posted a significant miss of analysts’ billings estimates.
Interestingly, the stock is up 47.4% since the results and currently trades at $258.34.
Read our full analysis of Snowflake’s results here.
Commvault (NASDAQ: CVLT)
Born from the need to create ironclad protection in an increasingly dangerous digital world, Commvault (NASDAQ: CVLT) provides data protection and cyber resilience software that helps organizations secure, back up, and recover their data across on-premises, hybrid, and multi-cloud environments.
Commvault reported revenues of $311.7 million, up 13.3% year on year. This number beat analysts’ expectations by 1.6%. Zooming out, it was a mixed quarter as it also produced an impressive beat of analysts’ billings estimates but full-year guidance of slowing revenue growth.
Commvault had the weakest performance against analyst estimates, slowest revenue growth, and weakest full-year guidance update among its peers. The stock is up 68.8% since reporting and currently trades at $149.20.
Read our full, actionable report on Commvault here, it’s free.
Market Update
Late in 2025 into early 2026, there was hand-wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?
These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.
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