Why MongoDB Stock Crashed Wednesday Morning

MongoDB stock plunged 10-14% on Wednesday despite delivering a beat-and-raise quarter with 30% revenue growth to $772M and 90% EPS growth to $1.90. The company raised full-year guidance to $3B revenue and $6.49 EPS. However, investors were disappointed by the stock's expensive valuation at 63x forward earnings and 31x next year's earnings, which couldn't justify the low-double-digit growth rate.