GitLab (GTLB) Boosts Security Solutions With Oxeye Acquisition – Yahoo Finance

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GitLab GTLB is bolstering its robust DevSecOps platform with the recently-announced acquisition of a leading provider of cloud-native application security and risk management solutions, Oxeye.

The acquisition underscores GitLab’s focus on enhancing its Static Application Security Testing (SAST) capabilities.

Gitlab’s addition of Oxeye’s automated SAST solution to its offerings will enhance developers’ and security professionals’ accuracy in identifying and resolving application-layer risks throughout the software development lifecycle.

GitLab’s Prospects Remain Strong

The latest move will help Gitlab address the strong demand for its AI-powered DevSecOps solutions.

GitLab Inc. Price and Consensus

GitLab Inc. Price and Consensus

GitLab Inc. Price and Consensus

GitLab Inc. price-consensus-chart | GitLab Inc. Quote

GitLab’s Ultimate tier witnessed remarkable growth in the fourth quarter of fiscal 2024, with 50% of Annual Recurring Revenue (ARR) attributed to this tier. The upside was primarily driven by successful customer engagements in security and compliance applications, reflecting the market’s recognition of GitLab’s capabilities.

In response to customer needs, GitLab introduced a new Enterprise Agile Planning SKU in the fourth quarter, aimed at simplifying processes for Ultimate tier customers. This enhancement underscores GitLab’s commitment to enabling customers to leverage its platform efficiently and derive maximum value from their investment.

GitLab’s robust portfolio is helping it to win customers. Enterprises including NVIDIA NVDA, Alphabet’s GOOGL, Google Cloud and Dunelm Group DNLMY have adopted GitLab’s solutions to accelerate AI development and streamline security.

NVIDIA selected Gitlab Geo to tackle scalability and security issues, enabling their remote teams to operate with greater efficiency and effectiveness. This implementation reduces the duration required for cloning and project management, facilitating smoother operations.

GitLab and Alphabet also joined forces to integrate GitLab’s distinctive features into Google Cloud. Through this collaboration, GitLab’s source code management, planning, CI/CD workflow, advanced security and compliance capabilities will be merged with Google’s Cloud console and Artifact Registry’s single data plane.

Gitlab also added Dunelm Group to its clientele by allowing the latter to leverage Gitlab SaaS Ultimate to incorporate tools and create pipelines on AWS. This partnership allowed Dunelm teams to perform automated scans within GitLab pipelines to address issues effectively.

GitLab’s expanded security and compliance solutions and market leadership in the DevSecOps platform category are contributing to its growth prospects and driving top-line growth.

For the first quarter of fiscal 2025, this Zacks Rank #3 (Hold) company expects revenues between $165 million and $166 million, indicating growth rate of 30-31% year over year. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for first-quarter fiscal 2025 revenues are pegged at $165.7 million, indicating 30.59% growth year over year.

Non-GAAP loss is expected between 4 cents and 5 cents per share for the fiscal first quarter. The consensus mark for loss is pegged at 3 cents per share, down from earnings of 6 cents over the past 30 days.

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