What's Going On With GitLab Stock Tuesday?
Portfolio Pulse from Anusuya Lahiri
GitLab Inc (NASDAQ:GTLB) reported Q4 revenue of $163.78 million, a 33.3% increase YOY, beating estimates. EPS was $0.15, surpassing the $0.08 estimate. However, fiscal 2025 guidance disappointed, leading to a 20.60% drop in stock price to $59.15. Analysts from RBC Capital, DA Davidson, Canaccord Genuity, and Mizuho provided mixed reviews, adjusting price targets and expectations. Exposure to GitLab can also be gained through Tidal ETF Trust II Pinnacle Focused Opportunities ETF (NYSE:FCUS) and Innovator IBD 50 ETF (NYSE:FFTY).
March 05, 2024 | 7:36 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
FCUS ETF, which includes GitLab in its holdings, may see indirect impact due to GitLab's stock performance.
As an ETF holding GitLab, FCUS may experience indirect impact on its performance due to significant movements in GitLab's stock price.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
FFTY ETF, which includes GitLab in its holdings, may see indirect impact due to GitLab's stock performance.
FFTY, as an ETF including GitLab, might be indirectly affected by the substantial price movement of GitLab's stock following its earnings announcement.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
GitLab reported higher than expected Q4 earnings but provided disappointing fiscal 2025 guidance, causing a significant stock price drop.
The significant drop in GitLab's stock price following the earnings report and the mixed fiscal 2025 guidance directly impacts investor sentiment and stock performance in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100