Why GitLab Shares Are Rising

GitLab Inc GTLB is surging Tuesday morning after the company reported better-than-expected financial results and issued guidance above estimates. 

GitLab reported quarterly revenue of $77.8 million, which beat the $70.29 million estimate. The company reported a quarterly earnings loss of 16 cents per share, which beat the estimate for a loss of 25 cents per share.

GitLab said it expects first-quarter revenue to be between $77 million and $78 million, versus the $72.75 million estimate. The company said it expects to record a first-quarter earnings loss of 27 to 28 cents per share, versus the estimate for a loss of 30 cents per share.

  • Keybanc analyst Michael Turits maintained GitLab with an Overweight rating and lowered the price target from $115 to $50.
  • Truist Securities analyst Joel Fishbein maintained GitLab with a Buy rating and lowered the price target from $175 to $105.

See Also: Why Coupa Software Shares Are Falling Today

GTLB 52-Week Range: $35.12 - $137

GitLab shares were up 19.6% at $39.52 at publication time.

Photo: courtesy of GitLab.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidancePrice TargetAnalyst RatingsMoversTrading Ideaswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!