Why is GitLab Inc. (GTLB) stock up 9%?

July 05, 2022 09:13 AM PDT | By Versha Jain

Image source: © Rafaelhenriquepress | Megapixl.com

Financials:

For the quarter ended April 30, 2022, the company earned a revenue of US$87.4 million compared to US$49.9 million in the previous year.

It booked a net loss attributable to the company of US$26.1 million or US$0.18 per share diluted compared to the net loss of US$27.9 million or US$0.53 per share diluted for the same quarter a year ago.

Its cash and cash equivalents almost remained the same at US$887.5 million as of April 30, 2022, compared to US$884.7 million as of January 31, 2022.

Its current market capitalization is US$8.7 billion. The GTLB stock traded in the range of US$137.00 to US$30.74 in the last 52 weeks.

Bottom line:

The GTLB stock fell 32.54% YTD and 47.69% in one year, while at the same time, the NASDAQ 100 Technology Sector Index declined approximately 34.51% YTD and 27.72% in one year.

The high-interest rate environment has hit the technology sector hard this year. Thus, investors should spend on stocks only after analyzing the companies and the external factors.

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