Let’s dig into the relative performance of DigitalOcean (NYSE: DOCN) and its peers as we unravel the now-completed Q2 data storage earnings season.
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.
While some data storage stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 2.3% since the latest earnings results.
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. This print exceeded analysts’ expectations by 0.9%. Overall, it was a very strong quarter for the company with an impressive beat of analysts’ billings estimates and full-year EPS guidance exceeding analysts’ expectations.
DigitalOcean achieved the highest guidance raise but had the weakest performance against analyst estimates and weakest full-year guidance update of the whole group. Unsurprisingly, the stock is up 1.7% since reporting and currently trades at $129.28.
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, outperforming analysts’ expectations by 5%. The business had an exceptional quarter with a solid beat of analysts’ annual recurring revenue estimates and an impressive beat of analysts’ billings estimates.
MongoDB pulled off the biggest analyst estimate beat and highest full-year guidance raise in the group. The company added 104 enterprise customers paying more than $100,000 annually to reach a total of 2,999. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 11.2% since reporting. It currently trades at $385.40.
Is now the time to buy MongoDB? 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 significant miss of analysts’ billings estimates.
Commvault delivered the weakest guidance update and slowest revenue growth among its peers. As expected, the stock is down 8% since the results and currently trades at $137.56.
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 topped analysts’ expectations by 4.3%. Zooming out, it was a satisfactory quarter as it also produced a solid beat of analysts’ adjusted operating income estimates but a significant miss of analysts’ billings estimates.
Snowflake pulled off the fastest revenue growth of the whole group. The company added 49 enterprise customers paying more than $1 million annually to reach a total of 828. The stock is up 8.3% since reporting and currently trades at $331.35.
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.
