Advertisement
UK markets close in 1 hour 2 minutes
  • FTSE 100

    8,154.42
    -44.36 (-0.54%)
     
  • FTSE 250

    21,045.61
    -93.07 (-0.44%)
     
  • AIM

    780.24
    -3.00 (-0.38%)
     
  • GBP/EUR

    1.1899
    +0.0026 (+0.22%)
     
  • GBP/USD

    1.2913
    -0.0020 (-0.15%)
     
  • Bitcoin GBP

    51,842.47
    -93.70 (-0.18%)
     
  • CMC Crypto 200

    1,369.50
    -15.76 (-1.14%)
     
  • S&P 500

    5,579.71
    +15.30 (+0.27%)
     
  • DOW

    40,452.89
    +37.45 (+0.09%)
     
  • CRUDE OIL

    79.95
    +0.17 (+0.21%)
     
  • GOLD FUTURES

    2,402.50
    +7.80 (+0.33%)
     
  • NIKKEI 225

    39,594.39
    -4.61 (-0.01%)
     
  • HANG SENG

    17,469.36
    -166.52 (-0.94%)
     
  • DAX

    18,522.85
    +115.78 (+0.63%)
     
  • CAC 40

    7,579.53
    -42.49 (-0.56%)
     

GitLab (GTLB) Boosts AI-Powered Capabilities With GitLab 16

GitLab GTLB recently announced the launch of GitLab 16, which harness DevSecOps platform-wide capabilities. It includes a wide range of improvements in security, compliance, AI/ML and value stream analytics, enabling customers to ship software faster.

Security, efficiency and automation are top requirements of an organization. GitLab 16 caters to the industry demand with DevSecOps workflows, enabling organizations to leverage the power of AI to deliver software efficiently, without compromising security.

GitLab 16 features with capabilities like AI-powered workflows enabling users to design code efficiently, security testing and analysis, observability and proactive vulnerability detection.

Apart from workflows, it strengthens software supply chain security. It empowers teams to balance speed and security by automating software delivery thereby securing customers’ end-to-end software supply chain.

GitLab Inc. Price and Consensus

 

GitLab Inc. price-consensus-chart | GitLab Inc. Quote

 

Strong Portfolio to Boost GitLab’s Top Line

GitLab banks on a strong a product portfolio which brings AI-powered DevSecOps capabilities into a single application which enhances productivity. It allows enterprises to build mission-critical software that is more reliable and feature rich.

GitLab’s strong customer base reflects its robust innovation in the field of security and AI. Notable enterprises like NVIDIA NVDA, Deutsche Telekom DTEGY and Dunelm Group DNLMY have adopted GitLab’s solutions to accelerate AI development and streamline security.

NVIDIA adopted GitLab Geo to tackle scalability and security issues. It enabled NVIDIA’s distributed teams to work efficiently and effectively by reducing the time taken to clone and manage projects.

Deutsche Telekom incorporated GitLab’s DevSecOps platform to streamline its software development capabilities and reduce manual tasks. This resulted in increased productivity, enhanced security and faster time to market.

Dunelm chose GitLab Saas Ultimate to integrate tools and seamlessly deploy secure pipelines on the AWS cloud. It allowed Dunelm teams to run automated scans within GitLab pipelines to tackle vulnerabilities effectively.

GitLab’s Bright Prospects

GitLab focuses on continuous innovation to drive significant value for its customers. Its differentiated platform helps it in capturing a larger market share. The company plans to add new AI capabilities throughout the DevSecOps lifecycle, thereby driving the top line.

GitLab plans to further strengthen its product portfolio with GitLab Dedicated. It will provide organizations within highly-regulated industries the benefits of an enterprise DevSecOps platform with a focus on data residency, isolation and private networking.

ADVERTISEMENT

For first-quarter fiscal 2024, this Zacks Rank #3 (Hold) company expects total revenues between $117 million and $118 million. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

The Zacks Consensus Estimate for first-quarter fiscal 2024 revenues is pegged at $117.64 million, indicating 34.59% growth from the year-ago quarter’s reported figure.

The consensus mark for first-quarter fiscal 2024 loss remained unchanged at 14 cents per share in the past 30 days, indicating a year-over-year rise of 22.22%.

However, shares of GitLab have plunged 23.8% year to date underperforming the Zacks Computer and Technology sector’s increase of 27.4% over the same time frame.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

NVIDIA Corporation (NVDA) : Free Stock Analysis Report

Deutsche Telekom AG (DTEGY) : Free Stock Analysis Report

Dunelm Group (DNLMY) : Free Stock Analysis Report

GitLab Inc. (GTLB) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research