Wall Street analysts expect GitLab Inc. (GTLB) to post quarterly earnings of $0.18 per share in its upcoming report, which indicates a year-over-year decline of 25%. Revenues are expected to be $273.3 million, up 15.8% from the year-ago quarter.
The current level reflects no revision 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 announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Given this perspective, it's time to examine the average forecasts of specific Gitlab metrics that are routinely monitored and predicted by Wall Street analysts.
It is projected by analysts that the 'Revenue- License-self-managed and other' will reach $25.76 million. The estimate suggests a change of +10.7% year over year.
Analysts predict that the 'Revenue- Subscription-self-managed and SaaS' will reach $247.31 million. The estimate points to a change of +16.3% from the year-ago quarter.
Analysts' assessment points toward 'Revenue- SaaS' reaching $91.50 million. The estimate indicates a change of +27% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Revenue- License-self-managed' of $20.60 million. The estimate points to a change of +13.5% from the year-ago quarter.
Analysts expect 'Revenue- Subscription-self-managed' to come in at $154.68 million. The estimate suggests a change of +10% year over year.
The average prediction of analysts places 'Revenue- Professional services and other' at $6.26 million. The estimate indicates a change of +21.9% from the prior-year quarter.
View all Key Company Metrics for Gitlab here>>>Over the past month, Gitlab shares have recorded returns of +21.4% versus the Zacks S&P 500 composite's +3.7% change. Based on its Zacks Rank #3 (Hold), GTLB will likely exhibit a performance that aligns with the overall market in the upcoming period. 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).