GitLab (GTLB) Stock Price: Why It Increased Over 8% Today

By Amit Chowdhry ● Jun 7, 2022
  • The stock price of GitLab Inc (NASDAQ: GTLB) increased by over 8% pre-market today. This is why.

The stock price of GitLab Inc (NASDAQ: GTLB) increased by over 8% pre-market today. Investors are responding positively to the company’s first-quarter results.

GitLab had reported a Q1 EPS of ($0.18), which was $0.09 higher than analyst estimates of ($0.27). And the revenue for the quarter was $87.4 million compared to the consensus estimate of $77.8 million. 

Going forward, GitLab expects FY2023 EPS of ($0.93)-($0.89), compared to the consensus of ($0.97). And GitLab expects FY2023 revenue of between $398 million and $402 million, compared to the consensus of $390 million. And GitLab expects Q2 2023 EPS of ($0.24)-($0.23), compared to the consensus of ($0.25). Plus GitLab expects Q2 2023 revenue of between $93.5 million and $94.5 million, compared to the consensus of $89.7 million.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.