RBC Capital analyst Matthew Hedberg reiterates GitLab Inc (NASDAQ:GTLB) with an Outperform and a $80 price target.
On Monday, GitLab reported fourth-quarter revenue of $163.78 million, up by 33.3% year-on-year, beating the analyst consensus estimate of $158.21 million. The company clocked EPS of $0.15, which beat the analyst consensus estimate of $0.08. The stock price plunged after the results.
GitLab projected first-quarter revenue of between $165 million – $166 million, versus the $161.86 million estimate, and full-year 2025 revenue of between $725 million – $731 million, versus the $731.67 million estimate. It expects first-quarter EPS of between $(0.05) – $(0.04), versus the $0.06 estimate and fiscal year 2025 EPS of $0.19 – $0.23, below the $0.35 consensus estimate.
The analyst noted that despite the strong quarter, fiscal 2025 guidance was mixed, with management calling out a “less conservative” guidance philosophy. While he expects lower beats than historical levels, there is room for upside to estimates driven by the premium price increase and better-than-expected contributions from new products.
Hedberg projects first-quarter revenue and EPS of $165.5 million (prior $159.0 million) and $(0.05) (prior $0.01).
DA Davidson analyst Gil Luria maintained GitLab with a Neutral and lowered the price target ...