MongoDB Inc ( MDB ) shares are trading higher Thursday, continuing a rally that began after the company posted impressive second-quarter financial results that beat Wall Street expectations. Here’s what investors need to know.

What To Know: The database software provider announced significant revenue growth and an increase in its full-year earnings forecast, signaling strong momentum and prompting a wave of analyst upgrades.

For the second quarter, MongoDB ( MDB ) reported a 24% year-over-year revenue increase to $591.4 million, beating the consensus estimate of $552.46 million. Adjusted earnings per share came in at $1.00, beating the anticipated 66 cents.

The company’s cloud-based offering, Atlas, was a key driver of the growth, with revenues from the platform climbing 29% and now accounting for 71% of total revenue.

Looking ahead, MongoDB ( MDB ) raised its full-year revenue guidance to a range of $2.34 billion to $2.36 billion and boosted its adjusted earnings per share forecast to between $3.64 and $3.73. This optimistic outlook is fueled by strong customer growth, with the company adding over 5,000 new customers year-to-date.

The stellar performance and bullish forecast have been met with enthusiasm from the analyst community. Numerous firms, including Piper Sandler, Needham and RBC Capital, have raised their price targets on the stock, citing the accelerating adoption of Atlas and the company’s expanding role in artificial intelligence applications.

Price Action: According to data from Benzinga Pro, MongoDB ( MDB ) shares are trading higher by 7.41% to $317.61 Thursday. The stock has a 52-week high of $370 and a 52-week low of $140.94.

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How To Buy MDB Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in MongoDB’s case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

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