GTLB - Gitlab: A Market Leader On Sale
2024-06-09 11:21:12 ET
Summary
- Gitlab reported strong Q1 earnings with a 33% increase in revenue and record free cash flow.
- Despite solid financial performance, the stock has declined 40% over the past three months due to competitive concerns and a broader SaaS slowdown.
- The company's market leadership, strong financials, and potential for acquisition make it an attractive investment opportunity.
Solid Q1 Earnings
Gitlab (NASDAQ: GTLB ) reported its Q1 results last week with a beat on both top and bottom lines. Revenue increased 33% to $169 million driven by large customer ARR. Operating metrics continued to improve, due to better operating leverage and pricing increases. The company also reached a record $37 million free cash flow. However, the market didn't like the guidance and the stock declined more than 10%....
Gitlab: A Market Leader On Sale