Shares of highly ranked software maker GitLab are up 42% in the last four months and more than doubled since May last year. On Wednesday, the Relative Strength (RS) Rating for GitLab stock climbed from 69 to 73.
GitLab Approaching Key Rating Threshold
The upgraded 73 RS rating shows that GitLab tops 73% of all stocks, regardless of industry, for price performance this past year. The market's biggest winners tend to have an RS Rating of at least 80 in the early stages of their moves. See if GitLab can continue to climb and clear that threshold.
Can You Really Time The Stock Market?
GitLab has an 81 EPS Rating and a terrific 92 Composite Rating. The best growth stocks usually have a 90 or higher Composite.
While it's not currently an ideal time to buy shares, see if the stock is able to offer and clear an appropriate buy point. GitLab closed down 3.2% Wednesday in sync with the market rout.
No. 4 In Group Amid Sizzling Profit Growth
However, the company showed 156% earnings growth in the latest quarterly report, to 23 cents per share, while sales grew 31% to $196.1 million. The prior three stanzas it reported EPS gains of 600%, 150%, 999%-plus. Its sales grew at a rapid rate too.
GitLab provides a platform that lets user build software with a reduced development cycle. It earns the No. 4 rank among its peers in the Computer-Technical Services industry group. Dave is the top-ranked stock within the group.
IBD's unique RS Rating measures technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the trailing 52 weeks compares to the rest of the market.
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