In its upcoming report, GitLab Inc. (GTLB) is predicted by Wall Street analysts to post quarterly earnings of $0.20 per share, reflecting an increase of 17.7% compared to the same period last year. Revenues are forecasted to be $253.9 million, representing a year-over-year increase of 18.4%.
The current level reflects a downward revision of 25.5% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
With that in mind, let's delve into the average projections of some Gitlab metrics that are commonly tracked and projected by analysts on Wall Street.
Based on the collective assessment of analysts, 'Revenue- License-self-managed and other' should arrive at $21.81 million. The estimate indicates a change of +8.9% from the prior-year quarter.
Analysts expect 'Revenue- Subscription-self-managed and SaaS' to come in at $231.98 million. The estimate indicates a change of +19.3% from the prior-year quarter.
According to the collective judgment of analysts, 'Revenues- Subscription-SaaS' should come in at $83.54 million. The estimate indicates a year-over-year change of +30.2%.
Analysts forecast 'Revenues- License-self-managed' to reach $14.65 million. The estimate indicates a change of -2.5% from the prior-year quarter.
The consensus estimate for 'Revenues- Subscription-self-managed' stands at $149.44 million. The estimate suggests a change of +14.7% year over year.
The collective assessment of analysts points to an estimated 'Revenues- License-Professional services and other' of $5.51 million. The estimate points to a change of +10.1% from the year-ago quarter.
View all Key Company Metrics for Gitlab here>>>Shares of Gitlab have demonstrated returns of +21% over the past month compared to the Zacks S&P 500 composite's +5% change. With a Zacks Rank #3 (Hold), GTLB is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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GitLab Inc. (GTLB): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).