GTLB - GitLab: Pounce On Further Weakness

2024-06-04 08:59:36 ET

Summary

• GitLab, an AI-driven software platform, has reported strong growth with revenue increasing by 33% in the April quarter.
• The company operates in the $40 billion integrated software delivery platforms market and is recognized as the leader in the space.
• GTLB stock is starting to enter the bargain zone with the potential to dip to 8x EV/S targets while opportunity exists for revenue upside from AI software development growth.

One area where AI has driven an impact on business is software development, and GitLab Inc. ( GTLB ) is benefitting from operating an AI-driven software platform. As with a lot of software plays, the stock has slumped in the last few months, now heading back to the prior lows. My investment thesis is Bullish on the stock, especially at the previous bottom near $40....

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