Is It Time to Buy GitLab Stock?
GitLab (NASDAQ: GTLB), an alternative to Microsoft-owned GitHub, has had a rough time as a publicly traded company. The DevSecOps platform provider, used by developers and companies to develop and maintain software, has seen its stock shrivel over the past year and a half.
A bruising fourth-quarter report on Monday added fuel to the fire, sending the stock down a double-digit percentage on Tuesday. As of late morning Tuesday, GitLab stock is down a whopping 75% from its all-time high.
GitLab produced impressive growth in fiscal 2022, which ended on Jan. 31 last year. Revenue soared 66% from the previous year, the dollar-based net retention rate topped 150% at the end of the year, and big-spending customers were flocking to the platform.
Source Fool.com
