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GitLab's "Go-To-Market Motion"

GitLab's "Go-To-Market Motion"

And, Solana's Visa stablecoin boost.

Photo by Pankaj Patel on Unsplash

Today is Wednesday, September 6, 2023.

The Early Bird Index today is 56.11.

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GitLab's "Go-To-Market Motion"

Software company GitLab (Nasdaq: GTLB) climbed by 5.43% in after-hours trading on Tuesday after posting strong financial earnings results.

Financials: GitlLab reported earnings of 1 cent per share in the past quarter and revenue of $139.6 million; both were better than expected.

Outlook: GitLab expects revenue in the current quarter to be between $140 million to $141 million and for the full year to be between $555 million to $557 million. These projections were better than expected.

Quote: “GitLab’s strong quarter is a result of our focus on creating a differentiated and innovative DevSecOps platform and executing on a strong go-to-market motion.” - Sid Sijbrandij, GitLab CEO and co-founder.

Stock Price: GitLab is up 13% this year, including a 5% gain in the last 30 days.

Final Thoughts: With a 38% revenue increase, GitLab had a tremendous quarter. The company hopes to lean into artificial intelligence to continue its 2023 growth.

Notables

Notable Earnings Today: Dave & Buster's Entertainment (Nasdaq: PLAY), GameStop (NYSE: GME), American Eagle (NYSE: AEO), Express (NYSE: EXPR), C3.ai (NYSE: AI), Sportsman's Warehouse (Nasdaq: SPWH), ChargePoint Holdings (NYSE: CHPT), Yext (NYSE: YEXT), Photronics (Nasdaq: PLAB), UiPath (NYSE: PATH), Zerofox Holdings (Nasdaq: ZFOX), Core & Main (NYSE: CNM), Akoustis Technologies (Nasdaq: AKTS), Couchbase (Nasdaq: BASE), Sprinklr (NYSE: CXM), Verint Systems (Nasdaq: VRNT).

Notable IPOs Today: Solowin Holdings Ordinary Share (Nasdaq: SWIN), Madison ETFs Trust (NYSE Arca: MSTI).

Notable Equity Crowdfunding Campaigns Ending Today: Octonic VR (StartEngine), Applaudable (StartEngine), Sip Herbals (Honeycomb), EduMatch (SMBX).

Notable Economic Events Today: Trade Balance / Imports / Exports (8:30 a.m. ET), S&P Global Services PMI (9:45 a.m. ET), S&P Global Composite PMI (9:45 a.m. ET), ISM Non-Manufacturing PMI (10:00 a.m. ET), ISM Non-Manufacturing Prices (10:00 a.m. ET), ISM Non-Manufacturing Employment (10:00 a.m. ET), Fed Beige Book (2:00 p.m. ET), API Weekly Crude Oil Stock (4:30 p.m. ET).

Solana's Visa Stablecoin Boost

Solana crypto coin Illustration. work email 👉shubhamdhage000@gmail.com

Photo by Shubham's Web3 on Unsplash

The price of the cryptocurrency Solana jumped 4% on Tuesday thanks to a new partnership with Visa (NYSE: V).

Details: Visa announced Tuesday that it expanded its stablecoin settlement capabilities by using the Solana blockchain. The company said that using the Solana blockchain will increase the speed of cross-border settlement.

Bigger Picture: This serves as another example of a major adoption and use of Solana’s technology. Solana’s price has more than doubled in 2023.

Final Thoughts: While obviously great news for Solana, the news is also meaningful for Visa because it gives the financial company more tech power at its disposal.

Zscaler Can’t Impress Investors

Despite posting better-than-expected financial results on Tuesday, shares of Zscaler (Nasdaq: ZS) dropped 1.38% in after-hours trading due to negative comments made by company leadership during the earnings call.

Final Thoughts: The cloud security company is up 47% this year as the demand for enterprise data protection grows.

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