These Analysts Revise Their Forecasts On GitLab After Q4 Results - GitLab (NASDAQ:GTLB)

GitLab Inc. (NASDAQ:GTLB) reported upbeat quarterly earnings, but issued earnings guidance below estimates.

The company reported quarterly earnings of 15 cents per share which beat the analyst consensus estimate of 8 cents per share. Quarterly sales clocked in at $163.78 million, beating the analyst consensus estimate of $158.21 million, according to data from Benzinga Pro, according to data from Benzinga Pro.

“We delivered a strong fourth quarter and continue to see large enterprise customers standardize on GitLab to realize business value,” said Sid Sijbrandij, GitLab CEO. “By integrating AI throughout the software development lifecycle, our DevSecOps platform allows our customers to plan, build, manage, and deliver software more efficiently, ultimately scaling the impact their software investments have on business outcomes. We believe this puts us in a strong position to continue to win the large market opportunity in front of us,” Sijbrandij added.

The company sees fiscal year 2025 earnings per share between 19 cents and 23 cents, below the 35 cents per share consensus estimate.

GitLab shares gained 17.6% to close at $16.13 on Monday.

These analysts made changes to their price targets on GitLab after the company reported quarterly results.

Bernstein raised the price target on GitLab from $71 to $76. Bernstein analyst Peter Weed maintained an Outperform rating.
Cantor Fitzgerald cut the price target on GitLab from $80 to $70. Cantor Fitzgerald analyst Jonathan Ruykhaver maintained an Overweight rating.

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GTLBGitLab Inc

$31.74-%

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