GTLB Price Prediction Next Week
Based on the technical analysis and recent news, here's the prediction for GTLB's next trading week:
Technical Analysis The stock is currently trading at $71.46 with RSI(14) at 60.33, indicating a moderately bullish momentum but not yet overbought. The MACD at 2.85 suggests positive momentum. The stock is trading above both its 20-day SMA ($67.24) and 60-day SMA ($63.31), confirming an upward trend.
Key Price Levels
- Resistance levels: $73.67 (R1), $75.74 (R2)
- Support levels: $66.97 (S1), $64.90 (S2)
- Pivot point: $70.32
News Impact
- JPMorgan analysts included GTLB among the beneficiaries of DeepSeek's AI developments, suggesting potential upside from AI-powered cost efficiencies
- Recent institutional activity shows mixed sentiment with 232 institutions increasing positions while 169 reducing
- The company disclosed $30,000 in lobbying expenses for Q4 2024, focusing on federal software development initiatives
Price Prediction for Next Week Based on technical indicators and news sentiment: Target price range: $73.50 - $75.50
Trading Recommendation: BUY Entry point: Current level ($71.46) Target: $75.50 Stop loss: $69.20
The stock shows strong momentum with positive AI-related catalysts and institutional support. The technical setup suggests a continuation of the upward trend, with potential to test the R2 resistance level at $75.74.
GTLB Similar Chart Price Prediction
The price of GTLB is predicted to go up 5.68%, based on the high correlation periods with TD. The similarity of these two price pattern on the periods is 97.31%.
GTLB
TD
Up: 5.68%Similarity: 97.31%
GTLB Revenue Forecast
GTLB EPS Forecast
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GTLB Analyst's Forecast
Steve Koenig
Macquarie
Buy
2024-12-12
Price Target
$90
Upside
+47.44%
Macquarie analyst Steve Koenig initiated coverage of GitLab with an Outperform rating and $90 price target. GitLab, the top pick in the analyst's coverage, has emerged as a key vendor in the rapidly evolving developer security operations toolchain, with an AI-powered platform that is useful to managers, developers, testers, IT operations, security teams, analysts, solution architects, and other personnel across the software development lifecycle, the analyst tells investors in a research note. The firm is bullish on GitLab's investment opportunity, and views the company as a valuable strategic and financial asset, adding that consensus revenue expectations through FY27 look beatable, even with revenue decelerating modestly to +22% year over year in this medium-term horizon.
J. Derrick Wood
TD Cowen
Strong Buy
2024-11-21
Price Target
$63 → $70
Upside
+8.02%
Mike Cikos
Needham
Hold → Strong Buy
2024-10-21
Price Target
$70
Upside
+26.29%
