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GitLab Inc. (GTLB) reported an estimated fiscal third-quarter revenue of $238.61 million, representing a 21.7% year-over-year increase. The number of customers generating over $100,000 in annual recurring revenue has reached 1,372, a 20% rise from the previous year, and the dollar-based net retention rate is estimated at 120%.
Despite these positive growth indicators, GitLab’s shares have declined by 17.6% year-to-date, contrasting with a 26.9% gain in the broader Zacks Computer & Technology sector. The forward 12-month Price/Sales ratio for GitLab stands at 7.13, compared to the sector’s 6.88.
GitLab currently holds a Zacks Rank of #2 (Buy) and is aiming to enhance its AI-native DevSecOps platform to boost enterprise adoption, especially in a competitive landscape dominated by strong rivals like Microsoft and Atlassian.
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