These Analysts Revise Their Forecasts On GitLab After Q4 Results
Portfolio Pulse from Avi Kapoor
GitLab Inc. (NASDAQ:GTLB) reported Q4 earnings of 15 cents per share, surpassing the 8 cents estimate, with sales of $163.78 million beating the $158.21 million forecast. However, its FY2025 EPS guidance of 19-23 cents was below the 35 cents consensus. Shares rose 17.6% to $16.13. Bernstein raised GitLab's price target from $71 to $76, maintaining an Outperform rating, while Cantor Fitzgerald lowered it from $80 to $70, keeping an Overweight rating.
March 05, 2024 | 12:59 pm
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GitLab reported higher-than-expected Q4 earnings and sales but provided lower FY2025 EPS guidance. Shares surged 17.6%. Analysts revised price targets.
The positive earnings report and sales figures for Q4 likely contributed to the stock's price increase. However, the lower-than-expected FY2025 EPS guidance could temper long-term optimism. Analysts' revised price targets reflect a mixed outlook, indicating potential volatility.
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