The most recent trading session ended with GitLab Inc. (GTLB) standing at $53.36, reflecting a +1.7% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily loss of 0.34%. Meanwhile, the Dow gained 0.23%, and the Nasdaq, a tech-heavy index, lost 0.33%.

Prior to today's trading, shares of the company had lost 4.96% over the past month. This has lagged the Computer and Technology sector's loss of 4.23% and the S&P 500's loss of 4.05% in that time.

The investment community will be paying close attention to the earnings performance of GitLab Inc. in its upcoming release. It is anticipated that the company will report an EPS of $0.08, marking a 233.33% rise compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $165.66 million, up 30.56% from the year-ago period.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.21 per share and a revenue of $729.36 million, signifying shifts of +5% and +25.77%, respectively, from the last year.

Any recent changes to analyst estimates for GitLab Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. GitLab Inc. is holding a Zacks Rank of #3 (Hold) right now.

Valuation is also important, so investors should note that GitLab Inc. has a Forward P/E ratio of 255.95 right now. This indicates a premium in contrast to its industry's Forward P/E of 29.17.

It's also important to note that GTLB currently trades at a PEG ratio of 10.73. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Internet - Software stocks are, on average, holding a PEG ratio of 1.64 based on yesterday's closing prices.

The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 73, which puts it in the top 29% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

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