ATLANTA, Sept. 05, 2024 (GLOBE NEWSWIRE) -- A shareholder class action lawsuit has been filed against GitLab Inc. ("GitLab" or "the Company") (NASDAQ: GTLB). The lawsuit alleges that Defendants disseminated materially false and misleading statements and/or concealed material adverse facts concerning GitLab's ability to develop AI features that would generate code more efficiently and increase market demand for its DevSecOps platform. If you bought shares of GitLab between June 6, 2023 and March 4, 2024, and ...

Core Viewpoint - A securities class action lawsuit has been filed against GitLab Inc. for allegedly disseminating false and misleading statements regarding its AI capabilities and market demand for its DevSecOps platform [1][2]. Group 1: Lawsuit Details - The lawsuit was filed in the United States District Court for the Northern District of California on behalf of all individuals or entities that purchased GitLab securities between June 6, 2023, and March 4, 2024 [1]. - The complaint claims that GitLab concealed material adverse facts about its ability to develop AI features that would enhance code generation efficiency [2]. Group 2: Financial Performance and Stock Impact - On March 4, 2024, GitLab reported a strong Q1 2024 but subsequently lowered its full-year guidance for 2025, indicating a need for more time to build its pipeline and close deals on new products [3]. - The company provided guidance for Q1 2025 and full year 2025, projecting growth rates of approximately 30-31% and 27%, respectively [3]. - Following the announcement, GitLab's stock price dropped from $74.47 per share to $58.84 per share on March 5, 2024, marking a decline of about 21% in one day [3].

GitLab NASDAQ: GTLB shares wallowed over the summer, but those days are long behind it now that the Q2 results are in. The results show that AI-focused spending is shifting to applications development, where GitLab excels. It is the leading DevSecOps platform, providing an end-to-end solution for companies ramping up their software development programs. Its AI-powered tools improve development time, security, and outcomes; they were recently named a leader in AI assist in one of Gartner's newest Magic Quadr ...

NEW YORK, Sept. 04, 2024 (GLOBE NEWSWIRE) -- The following statement is being issued by Levi & Korsinsky, LLP: To: All persons or entities who purchased or otherwise acquired securities of GitLab Inc. ("GitLab" or the "Company") (NASDAQ: GTLB) between June 6, 2023 and March 4, 2024, both dates inclusive. You are hereby notified that the class action lawsuit Dolly v. GitLab Inc., et al. (Case No. 3:24-cv-06244) has been commenced in the United States District Court for the Northern District of California. To ...

Sumedha Lakmal Thesis GitLab Inc. (NASDAQ:GTLB) presents a compelling investment opportunity due to its strong position in the rapidly growing DevOps market, innovative product offerings, and potential for continued growth despite facing intense competition. Company Overview GitLab is a complete DevOps platform delivered as a single application, covering the entire software development lifecycle from planning to monitoring. Founded in 2011, the company went public in October 2021. Reasons to Consider Invest ...

It's business as usual for GitLab. Shares of GitLab (GTLB 17.07%) were soaring today after the DevOps cloud software specialist posted strong results in its fiscal 2025 second-quarter earnings report, beating estimates on the top and bottom lines. As of 12:17 p.m. ET, the stock was up 17% on the news. GitLab keeps growing In a difficult environment for cloud software companies, GitLab keeps delivering solid growth. Revenue in the quarter rose 31% to $182.6 million, topping estimates at $177 million. Adjuste ...

Shares of Gitlab Inc GTLB spiked in early trading on Wednesday, after the company reported upbeat secondquarter results. The company reported its results amid an exciting earnings season. Here are some key analyst takeaways. Cantor Fitzgerald analyst Yi Fu Lee reiterated an Overweight rating, while raising the price target from $55 to $60. Scotiabank analyst Patrick Colville reaffirmed a Sector Outperform rating, while lifting the price target from $59 to $65. Truist Securities analyst Joel Fishbein maintai ...

Key Takeaways GitLab posted second-quarter earnings and revenue that exceeded forecasts as artificial intelligence (AI) product demand boosted sales. The software-development provider also raised its full-year guidance. Co-founder and CEO Sid Sijbrandij said organizations need faster software solutions to compete in the AI arena. GitLab (GTLB) shares soared Wednesday, a day after it posted better-than-expected results and raised its guidance, becoming the latest tech firm to benefit from the soaring demand ...

Olemedia/E+ via Getty Images The GitLab Investment Thesis GitLab Inc (NASDAQ:GTLB) is a company with significant growth potential due to its market position and a potential TAM of more than $40 billion. At the time of my last article, however, the stock had taken a big hit after guidance came in worse than expected. Fortunately, the stock was able to bounce back from the weaker-thanexpected guidance and even raised guidance above what was expected at the time. The first half of the fiscal year was also very ...

Financial Data and Key Metrics Changes - In Q2 FY25, revenue increased by 31% year-over-year to $183 million, driven by new customer acquisitions and existing customer expansions [4][17] - Non-GAAP operating margin improved significantly, rising over 1,300 basis points year-over-year to 10% [4][19] - Dollar-based net retention rate (DBNRR) was 126%, supported by seat expansion, increased customer yield, and tier upgrades [17][33] - Non-GAAP gross margins were reported at 91% for the quarter, with SaaS revenue growing by 46% year-over-year [18][19] Business Line Data and Key Metrics Changes - GitLab Ultimate now represents 47% of total annual recurring revenue (ARR), with significant growth in larger customer cohorts [12][17] - The company reported a total remaining performance obligation (RPO) growth of 51% year-over-year to $747.9 million [18] - The number of customers with ARR of at least $5,000 increased by approximately 19% year-over-year, totaling 9,314 [17] Market Data and Key Metrics Changes - GitLab was recognized as a Leader in the 2024 Gartner Magic Quadrant for AI Code Assistants and DevOps Platforms, highlighting its competitive position in the market [8][9] - The company noted a significant increase in deal sizes, with large enterprises adopting AI capabilities [6][12] Company Strategy and Development Direction - GitLab's strategy focuses on integrating AI throughout the software development lifecycle to enhance productivity and security [5][12] - The company aims to consolidate toolchains for customers, which is seen as a significant opportunity for growth [10][12] - GitLab is positioning itself as a vendor-agnostic platform, emphasizing its comprehensive capabilities and security features [36][37] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to drive customer success and leverage AI for business outcomes in the second half of FY25 [15][20] - The macroeconomic environment remains cautious, but the company is focused on delivering quick time to value for customers [16][26] - Management anticipates continued growth in revenue and operating income for FY25, with guidance for Q3 revenue between $187 million and $188 million [20][65] Other Important Information - The company achieved the "In Process" designation for FedRAMP Moderate, enhancing its offerings for public sector clients [14] - Non-GAAP operating income for Q2 was $18.2 million, a significant improvement from a loss of $4.3 million in the same quarter last year [19] Q&A Session Summary Question: Update on go-to-market strategy and leadership transition - Management noted a smooth transition to new leadership and emphasized the quality of candidates for the new role [23] Question: Insights on operating margin and growth prioritization - Management confirmed that growth remains the top priority while responsibly increasing operating leverage [25] Question: Differences in macro environment between quarters - No significant changes were observed between Q1 and Q2; the spending environment remains cautious [26][27] Question: Interest in non-coding AI tools - Management acknowledged growing interest in AI throughout the software lifecycle, beyond just coding [28] Question: Market share dynamics with competitors - Management believes both GitLab and GitHub are benefiting from a shift towards platform solutions, with GitLab positioned well in the market [31][32] Question: Impact of pricing changes on net retention rate - Management expressed confidence in the stability of the net retention rate and noted ongoing expansion among historical cohorts [33] Question: AI adoption metrics among customers - Management indicated that AI adoption is still in early stages, with enterprises cautiously integrating AI into their workflows [51] Question: Expectations for Duo Enterprise adoption - Management expects AI to contribute significantly to growth in FY26 and beyond, with strong early performance from Duo [70]