GitLab Inc. is a leading platform for DevOps, providing a suite of tools for software development, project management, and collaboration
The company offers a comprehensive solution that integrates various stages of the software development lifecycle, from planning and coding to testing and deployment. GitLab’s platform is designed to enhance productivity and streamline processes for developers and teams, allowing for better version control, continuous integration, and automated workflows. With an emphasis on openness and collaboration, GitLab also supports both self-hosted and cloud-based environments, catering to a diverse range of organizations seeking to innovate and deliver high-quality software efficiently.
U.S. stocks plunged Tuesday as President Donald Trump‘s tariffs on key trade partners came into effect, prompting retaliatory measures and intensifying global trade tensions.
Software development tools maker GitLab (NASDAQGTLB) beat Wall Street’s revenue expectations in Q4 CY2024, with sales up 29.1% year on year to $211.4 million. The company expects next quarter’s revenue to be around $212.5 million, close to analysts’ estimates. Its non-GAAP profit of $0.33 per share was 44.6% above analysts’ consensus estimates.
The stock market experienced a tumultuous day as President Donald Trump confirmed plans to impose new tariffs. A sell-off ensued, pushing major indices into the red.
Stocks fell broadly on Monday to start the month of March with all three major indices red in midday trading. Investors digested a decline in February's ISM Manufacturing PMI data which fell to 50.3%, down from 50.9% in January.
Stocks recovered on Friday, with all three major indexes in the green, as the tech sector bounced back from Thursday's losses with NVIDIA Corp. (NASDAQNVDA) up 1.37% and Tesla, Inc. NASDAQ:TSLANASDAQTSLA)
From commerce to culture, software is digitizing every aspect of our lives. The undeniable tailwinds fueling the industry have also led to strong returns for SaaS stocks lately
as they’ve gained 36.7% over the past six months, outpacing the S&P 500’s 11.3% rise.
The top 10 best performing large-cap stocks in the last week were Atlassian, Royal Caribbean, IBM, GitLab, Check Point, RBC Bearings, Alibaba, Duolingo, Franklin Resources, and Cloudflare.
Over the past six months, GitLab has been a great trade, beating the S&P 500 by 9%. Its stock price has climbed to $62.60, representing a healthy 18.4% increase. This was partly due to its solid quarterly results, and the performance may have investors wondering how to approach the situation.
