Gitlab (GTLB) Moves 12.3% Higher: Will This Strength Last?

GitLab Inc. GTLB shares soared 12.3% in the last trading session to close at $72.75. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 14.7% gain over the past four weeks.GTLB’s is benefiting from its expanding clientele and solid adoption of its AI-powered DevSecOps platform.This company is expected to post quarterly earnings of $0.23 per share in its upcoming report, which represents a year-over-year change of +53.3%. Revenues are expected to be $205.64 million, up 25.6% from the year-ago quarter.While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.For Gitlab, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on GTLB going forward to see if this recent jump can turn into more strength down the road.The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Gitlab belongs to the Zacks Internet - Software industry. Another stock from the same industry, Zoom Communications ZM, closed the last trading session 8.1% higher at $88.64. Over the past month, ZM has returned -0.9%.For Zoom, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $1.31. This represents a change of -7.8% from what the company reported a year ago. Zoom currently has a Zacks Rank of #2 (Buy).7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.3% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>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 GitLab Inc. (GTLB): Free Stock Analysis Report Zoom Communications, Inc. (ZM): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks