GitLab (GTLB) potentially exploring sale, with interest from acquirers like Datadog, stock rose.

From Nasdaq: 2024-07-17 12:19:22

Shares of GitLab (NASDAQ:GTLB) rose on news of potential sale, with interest from acquirers like Datadog. Backed by Google, GitLab’s platform streamlines software operations across teams. Q1 earnings of $0.03 per share beat estimates, with revenue up 33.3% to $169.19 million.

M&A activity in tech sector on the rise, driven by AI and cloud computing advancements. Google rumored to be eyeing cybersecurity startup Wiz for $23 billion. Analysts bullish on GTLB stock, with Strong Buy consensus and average price target of $65.06, suggesting 18.2% upside potential.



Read more at Nasdaq: M&A News: GOOGL-Backed GitLab (NASDAQ:GTLB) Could Be Exploring a Sale