What's Going On With Gitlab Shares Tuesday?
Portfolio Pulse from Dylan Berman
Gitlab, Inc. (NASDAQ:GTLB) shares are trading lower after the company reported better-than-expected Q1 earnings but received mixed analyst reactions with several price target reductions.
June 04, 2024 | 3:25 pm
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Gitlab reported better-than-expected Q1 earnings with adjusted EPS of three cents and revenues of $169.18 million. Despite this, several analysts lowered their price targets, leading to a 1.90% drop in stock price.
Despite beating earnings and revenue estimates, Gitlab's stock price fell due to multiple analysts lowering their price targets. This indicates a cautious outlook from analysts, which likely influenced investor sentiment negatively.
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