Stocks of Gitlab Inc (NASDAQ:GTLB) traded higher last session on Wall Street, up 1.83% to $49.45.
GTLB stock price is now -3.01% away from the 50-day moving average and -10.59% away from the 200-day moving average. The market capitalization of the company currently stands at $7.86B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target maintained at $70, Raymond James recently Upgraded its rating from Mkt Perform to Outperform for Gitlab Inc (NASDAQ: GTLB). On April 09, 2024, Wells Fargo recently initiated its ‘Overweight’ rating on the stock quoting a target price of $70, while ‘CapitalOne’ rates the stock as ‘Overweight’
In other news, Mannix Erin, Chief Accounting Officer sold 494 shares of the company’s stock on Jun 20 ’24. The stock was sold for $21,202 at an average price of $42.92. Upon completion of the transaction, the Chief Accounting Officer now directly owns 72,955 shares in the company, valued at $3.61 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 17 ’24, Chief Executive Officer Sijbrandij Sytse sold 56,000 shares of the business’s stock. A total of $2,437,680 was realized by selling the stock at an average price of $43.53. A total of 26.54% of the company’s stock is owned by insiders.
During the past 12 months, Gitlab Inc has had a low of $40.19 and a high of $78.53. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 1.83, and a quick ratio of 1.83. The fifty day moving average price for GTLB is $50.895 and a two-hundred day moving average price translates $55.29275 for the stock.
The latest earnings results from Gitlab Inc (NASDAQ: GTLB) was released for 2024-04-30. The net profit margin was -68.52% and return on equity was -63.95% for GTLB. The company reported revenue of $169.19 million for the quarter, compared to $126.88 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 33.35 percent.
