One of the biggest losers of today's aftermarket session was GitLab Inc., which was downgraded from overweight to neutral by JPMorgan Chase. In response, shares of the software company plunged -15.6%. Some investors may now be wondering if its price of $50.53 would make a good entry point. Here's what you should know if you are considering this investment:
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GitLab Inc. has moved -42.4% over the last year, and the S&P 500 logged a change of -12.8%
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GTLB has an average analyst rating of buy and is -31.44% away from its mean target price of $73.7 per share
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Its trailing 12 month price to earnings (Eps) of $-1.49 per share
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GitLab Inc. has a trailing 12 month Price to Earnings (P/E) ratio of -34.0 while the S&P 500 average is 15.97
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Its forward 12 month price to earnings (Eps) is $-1.49 per share and its forward P/E ratio is -66.5
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The company has a Price to Book (P/B) ratio of 9.5 in contrast to the S&P 500's average ratio of 2.95
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GitLab Inc. is part of the Technology sector, which has an average P/E ratio of 20.64 and an average P/B of 5.39
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GitLab Inc., through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. The company offers GitLab, a DevOps platform, which is a single application that leads to faster cycle time and allows visibility throughout and control over various stages of the DevOps lifecycle. It helps organizations to plan, build, secure, and deploy software to drive business outcomes. The company also provides related training and professional services. The company was formerly known as GitLab B.V. and changed its name to GitLab Inc. in July 2015. The company was founded in 2011 and is headquartered in San Francisco, California.
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