A) Co announces 7% reduction in headcount
B) reduction in workforce could help buoy margins by about 250 bps.
C) On March 2- GitLab increasing list price of GitLab Premium 03/02 GTLB In a blog post, GitLab stated: "Effective April 3, 2023, GitLab is increasing the list price of GitLab Premium from $19 to $29 per user per month. Existing GitLab Premium customers will have a one-time transition price of $24 per user per month automatically applied to their upcoming renewals until April 2, 2024. As GitLab's first price increase in more than five years, this new pricing for GitLab Premium reflects the evolution of GitLab from source control and CI to the most comprehensive DevSecOps Platform. Over the past five years, GitLab Premium added more than 400 features, leading to improved cycle times, enhanced developer experience, and better collaboration for our customers.
D) GitLab price increase hits 'significant portion' of base, says Barclays 03/02 GTLB Barclays analyst Ryan MacWilliams says GitLab's 53% Premium price increase "layers into a significant portion" of the company's installed base over time. The price increase, to $29 from $19 per month, could make the $99 per month Ultimate tier option more attractive to existing customers, the analyst tells investors in a research note. The firm thinks the price increase could also help investors feel better about GitLab's growth in fiscal 2024 and 2025. It has an Overweight rating on the shares with a $65 price target. The stock in afternoon trading is up 17% to $50.30.
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