GitLab: Seriously? A Stock Worth Looking At.

So, GitLab. (GTLB 1.55%). I keep seeing this stock, and honestly, it’s… perplexing. It’s been down, okay? Down a lot. Like, more than it should be, if you ask me. I mean, 10% in ’24? 33% in ’25? It’s almost… insulting. You’d think a company actually doing something, you know, building a platform, would get a little more respect. But no. The market? Forget about it. It’s just… chaotic.

They call it DevSecOps. Sounds… complicated. Basically, it’s where people write code and try not to get hacked. Good idea, right? Seems logical. And now they’re adding AI. Of course. Everyone’s adding AI. It’s the new thing to do. It’s like they’re admitting the old way wasn’t good enough. And then they want you to pay extra for it! A hybrid model, they call it. It’s always a “model” these days. Like it’s some sort of high fashion statement. I just want the code to work!

The numbers, fine, they’re okay. 25-35% revenue growth. Consistent. That’s… acceptable. They’re adding customers, existing customers are spending more. Net retention of 119%? What does that even mean? It sounds… made up. But okay, let’s assume it’s real. High-gross margin, around 80%. So, they’re making money. But the stock price is still… stubbornly low. It’s infuriating.

Here’s the problem. Everyone’s worried about AI taking away programmers’ jobs. As if that’s the biggest issue facing humanity. It’s like they think coders are an endangered species. And if there are fewer coders, GitLab suffers. It’s… predictable. But here’s what I don’t get: even if AI writes the code, someone still needs a place to store it, right? A secure place. And that’s where GitLab comes in. It’s basic logic! It’s like saying, “Oh, we have self-driving cars now, so we don’t need roads!” Ridiculous.

And this vibe-coding thing… writing code with natural language? What is that, some sort of millennial fantasy? I mean, I like a good sentence as much as the next guy, but code needs to be precise! You can’t just wish it to work! And even if you do manage to write code with your feelings, it still needs to be reviewed. By a human! Because AI makes mistakes. Just like us. It’s a mess, honestly. A complete mess.

So, the stock is cheap. Trading at 5.5 times price-to-sales, 24.5 price-to-earnings. Okay, fine. A bargain, they say. But why is it still cheap? What are we missing? It’s like everyone is deliberately ignoring the obvious. It’s maddening.

Look, I’m not saying this is the next Amazon. I’m just saying it’s not bad. It’s a solid company, building a useful platform, and the market is being irrational. And when the market is irrational, that’s when you can actually make money. It’s simple. It’s logical. It’s… frustratingly obvious. I might just have to buy some. Not because I’m optimistic, you understand. Just to prove a point. A very small, petty point. But a point nonetheless.

2026-01-31 04:12

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