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For the to-be-reported quarter, GitLab expects revenues between $119 million and $120 million. Loss is expected between 15 cents and 14 cents per share.
The Zacks Consensus Estimate for loss has been steady at 15 cents per share over the past 30 days. Gitlab reported a loss of 16 cents in the year-ago quarter.
The consensus mark for revenues is currently pegged at $119.7 million, indicating 53.82% growth from the year-ago quarter’s reported figure.
Gitlab’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average earnings surprise being 35.40%.
Let’s see how things have shaped up prior to this announcement.
Factors at Play for Q4 Results
Gitlab’s fiscal fourth-quarter results are likely to benefit from a strong portfolio, expanding clientele and strong retention rate.
The availability of solutions like GitLab Govern, TeamOps and Suggested Reviews are expected to have helped it expand clientele in the to-be-reported quarter.
Moreover, an expanding partner base that includes the likes of Google Cloud is noteworthy. GitLab has partnered with Google Cloud to launch Cloud Seed. The partnership will allow customers to migrate to the cloud using a single platform.
Cloud Seed is built into the GitLab web UI and leverages the company’s CI/CD pipeline capabilities to give developers a frictionless experience and to make it easier to deploy their web applications directly to Google Cloud from GitLab.
However, a challenging macro environment and high inflation have been concerns for Gitlab in the fiscal fourth quarter.
What Our Model Indicates
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Gitlab has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle:
Image: Shutterstock
Gitlab (GTLB) to Report Q4 Earnings: What's in the Cards?
Gitlab (GTLB - Free Report) is set to release its fourth-quarter fiscal 2023 results on Mar 13.
For the to-be-reported quarter, GitLab expects revenues between $119 million and $120 million. Loss is expected between 15 cents and 14 cents per share.
The Zacks Consensus Estimate for loss has been steady at 15 cents per share over the past 30 days. Gitlab reported a loss of 16 cents in the year-ago quarter.
The consensus mark for revenues is currently pegged at $119.7 million, indicating 53.82% growth from the year-ago quarter’s reported figure.
Gitlab’s earnings beat the Zacks Consensus Estimate in all the trailing four quarters, the average earnings surprise being 35.40%.
GitLab Inc. Price and EPS Surprise
GitLab Inc. price-eps-surprise | GitLab Inc. Quote
Let’s see how things have shaped up prior to this announcement.
Factors at Play for Q4 Results
Gitlab’s fiscal fourth-quarter results are likely to benefit from a strong portfolio, expanding clientele and strong retention rate.
The availability of solutions like GitLab Govern, TeamOps and Suggested Reviews are expected to have helped it expand clientele in the to-be-reported quarter.
Moreover, an expanding partner base that includes the likes of Google Cloud is noteworthy. GitLab has partnered with Google Cloud to launch Cloud Seed. The partnership will allow customers to migrate to the cloud using a single platform.
Cloud Seed is built into the GitLab web UI and leverages the company’s CI/CD pipeline capabilities to give developers a frictionless experience and to make it easier to deploy their web applications directly to Google Cloud from GitLab.
However, a challenging macro environment and high inflation have been concerns for Gitlab in the fiscal fourth quarter.
What Our Model Indicates
Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Gitlab has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings this reporting cycle:
Nike (NKE - Free Report) has an Earnings ESP of +15.69% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
NKE shares have declined 5.6% in the past year. It is set to report its third-quarter fiscal 2023 results on Mar 21.
Canadian Solar (CSIQ - Free Report) has an Earnings ESP of +102.76% and carries a Zacks Rank of 2 at present.
Canadian Solar shares have gained 15% in the past year. CSIQ is set to report its fourth-quarter 2022 results on Mar 21.
General Mills (GIS - Free Report) has an Earnings ESP of +2.44% and a Zacks Rank #2.
General Mills shares have gained 23.5% in the past year. GIS is set to report its third-quarter fiscal 2023 results on Mar 23.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.