As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q2. Today, we are looking at data storage stocks, starting with MongoDB (NASDAQ: MDB).

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 strong Q2. As a group, revenues beat analysts’ consensus estimates by 2.8% while next quarter’s revenue guidance was 3.3% below.

In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.

Best Q2: 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 $771.8 million, up 30.5% year on year. This print exceeded analysts’ expectations by 5%. Overall, it was an exceptional quarter for the company with an impressive beat of analysts’ annual recurring revenue estimates and a solid beat of analysts’ billings estimates.

"We delivered strong second quarter results, highlighted by 30% year-over-year revenue growth—the highest level of growth in several years—and continued strong profitability. This performance reflects the mission-critical role our platform plays for customers, with strength driven by core enterprise workloads and early momentum with AI use cases. That strength spans our run anywhere strategy across both Atlas and Enterprise Advanced, highlighting the power of our data platform. This gives us the confidence to raise our full year fiscal 2027 guidance," said CJ Desai, President and Chief Executive Officer of MongoDB.

MongoDB pulled off the biggest analyst estimate beat and highest full-year guidance raise among its peers. The company added 104 enterprise customers paying more than $100,000 annually to reach a total of 2,999. Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 19.1% since reporting and currently trades at $351.39.

Is now the time to buy MongoDB? Access our full analysis of the earnings results here, it’s free.

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 $281.2 million, up 28.6% year on year, outperforming analysts’ expectations by 0.9%. The business had a very strong quarter with a solid beat of analysts’ billings estimates and full-year EPS guidance exceeding analysts’ expectations.

DigitalOcean scored the highest guidance raise of the whole group. The market seems happy with the results as the stock is up 10.9% since reporting. It currently trades at $141.00.

Is now the time to buy DigitalOcean? Access our full analysis of the earnings results here, it’s free.

Weakest Q2: 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 $314.1 million, up 11.4% year on year, exceeding analysts’ expectations by 1.2%. Still, it was a slower quarter as it posted revenue guidance for next quarter missing analysts’ expectations significantly and a miss of analysts’ billings estimates.

Commvault delivered the weakest guidance update and slowest revenue growth in the group. The stock is flat since the results and currently trades at $149.50.

Read our full analysis of Commvault’s results here.

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 $1.55 billion, up 35.1% year on year. This number beat analysts’ expectations by 4.3%. Taking a step back, it was a satisfactory quarter as it also recorded an impressive beat of analysts’ adjusted operating income estimates but a significant miss of analysts’ billings estimates.

Snowflake achieved the fastest revenue growth among its peers. The company added 49 enterprise customers paying more than $1 million annually to reach a total of 828. The stock is up 11.8% since reporting and currently trades at $342.00.

Read our full, actionable report on Snowflake here, it’s free.

Market Update

Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.

Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.

By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.

Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Growth Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.