Why GitLab Stock Is Soaring Today
Portfolio Pulse from Ryan Gustafson
GitLab Inc. (NASDAQ:GTLB) reported better-than-expected Q1 results with a loss of 6 cents per share and sales of $126.90 million, a 45.18% increase YoY. Several analysts raised GitLab's price target, and shares were up 32.7% at $46.97.
June 06, 2023 | 7:44 pm
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GitLab's better-than-expected Q1 results and raised price targets by analysts led to a 32.7% increase in stock price.
GitLab reported a smaller loss than expected and a significant YoY sales increase, which exceeded analyst estimates. This positive news, combined with raised price targets from analysts, has led to a surge in GitLab's stock price, indicating a positive short-term impact.
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