GitLab jumps on upbeat quarterly results, new CEO appointment

GitLab

05/12/2024 22:34

** GitLab's  GTLB.O  shares rise 7.3% to $70.87 aftermarket
    ** Co reports Q3 revenue of $196 mln vs analysts' estimates
of $187.9 mln — LSEG
    ** Posts Q3 adj. EPS of 24 cents, beating estimates of 16
cents 
    ** GTLB expects its FY24 revenue to be between $753 mln and
$754 mln, analysts' on average expect a revenue of $744.1 mln 
    ** On an adjusted basis it expects its FY profit to be
between 63 cents and 64 cents, above Street's estimates of 47
cents
    ** CEO Sid Sijbrandij steps down and transitions to
executive chair of the board, co appoints Bill Staples as new
CEO   
    ** 25 of 28 brokerages rate the stock "buy" or higher, 3
"hold"; their median PT is $70
    ** Including session's moves, stock up 4.8% YTD

 (Reporting by Abhinav Parmar in Bengaluru)
 ((abhinav.parmar@thomsonreuters.com))