GitLab’s Big Gains

On Friday, we discussed growth stocks getting back on the right path due to a variety of factors. Today, that trend continued with GitLab. 👍

The developer-tools company is jumping after posting better-than-expected earnings, revenues, and guidance. Adjusted earnings per share (EPS) of $0.09 on revenues of $149.7 million topped the $0.01 per share loss on $141.5 million in revenues that analysts anticipated.

Notably, this is the first time the company has posted an adjusted operating profit. CFO Brian Robins touted 2,200 basis points on non-GAAP operating margin expansion after it cut costs and focused on responsible growth. Also, GitLab’s revenues rose 32% YoY, with its customer count rising 37%. 📊

Executives said the company is experiencing strength in large customers but noted small and medium-sized customers remain cautious about the economic environment. Nevertheless, they forecasted fourth-quarter adjusted EPS of $0.08-$0.09 on revenues of $157-$158 million. Analysts were again looking for a $0.01 per share loss on $150.20 million in revenues.

$GTLB shares rose 17% after the bell as the trend of beaten-down tech stocks beating low expectations continues. 😍

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Snap Is Full Of Crap

Pardon our French in the title, but we’ve given Snap the benefit of the doubt in our coverage for quite some time now. And yet, the company and its management continue to pass the buck for poor results onto external factors. 🤨

If you don’t believe us, let’s guess what the company blamed its revenue miss and light guidance on this time. We’ll give you a few seconds to think before moving to the next line… Lock in your answer

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Global Payment Networks Charge Ahead

With everyone wondering how the U.S. consumer and economy are holding up, we’ve all got our favorite metrics we like to track. But as we’ve pointed out before, one of the easiest things to look at is the stock prices and businesses of global payment networks. 👀

American Express, Visa, and Mastercard make money each and every time someone swipes their credit or debit card. And judging by all three stocks making new all-time highs this year, consumers are continuing to swipe despite economic uncertainty. 💳

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Lyft’s IR Department Just Whiffed

Investor relations departments are the silent heroes of a public company, receiving little recognition for the critical role they play. When they do receive a lot of attention, it’s generally not for good reason. That’s unfortunately what Lyft’s team is finding out today. 😵‍💫

After the bell, ridesharing company Lyft reported fourth-quarter results that were good, not great. But the stock immediately shot up and notched as high as a 60% gain before anyone realized what happened. Did the company just invent a cure for rare diseases? Are they pivoting to crypto or semiconductors? What was the cause of this?

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Semis Continue To Tower Over Market

Semiconductors continue to dominate the market and thus dominate our headlines. With that said, today we’ve got a fresh stock breaking out and another setting up, so stick with us. 👇

First up is Tower Semiconductor, an Israeli chip manufacturer that reported results today. The company’s revenue fell 13% YoY to $351.7 million during the fourth quarter but topped the $350 million expected by analysts. Its earnings per share were down about 30% YoY to $0.48, but again, better than anticipated. 🔺

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