Shulou(Shulou.com)11/24 Report--

Thanks to CTOnews.com netizen Brother Black fly's left hand and Mr. Aviation's clue delivery! CTOnews.com, June 7 (Xinhua)-- online code hosting platform GitLab announced the launch of an artificial intelligence (AI) product that can increase revenue. As a result, GitLab shares rose more than 35 per cent on Tuesday.

According to reports, GitLab will add "ModelOps" function to its main "DevSecOps" platform, which can provide users with a series of new features, including code assistant. GitLab said late Monday that the product is expected to be launched this year at a monthly charge of $9 (CTOnews.com Note: currently about 64 yuan).

On the news, GitLab's shares closed up 35.4% on Tuesday, the biggest one-day gain since the company went public in 2021.

GitLab said on Monday that its first-quarter revenue rose 45 per cent to $126.9 million (CTOnews.com note: currently about 904 million yuan), exceeding Refinitiv's consensus forecast and the company's previous forecast. After the news, several analysts raised their target price for GitLab shares.

An average of 18 analysts recommended buying GitLab shares and set the median target price at $53.50, according to Refinitiv.

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