KGI Research Singapore

Singapore's leading broker offering Futures, FX, Equities and Wealth Management.

Technical Analysis – 6 December 2023

United States | Singapore | Hong Kong | Earnings

Tesla Inc (TSLA US) 

  • Shares closed above the 5dEMA with rising volume. 
  • Both RSI and MACD are constructive. 
  • Long – Entry 236.0, Target 253.0, Stop 227.5 

Amazon.com Inc (AMZN US) 

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  • Shares closed above the 5dEMA with rising volume. 
  • RSI is constructive, while MACD is negative. 
  • Long – Entry 145, Target 157, Stop 139 

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Jardine Cycle & Carriage Ltd (JCNC SP) 

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  • Shares closed above the 20dEMA with an incline in volume.  
  • RSI is constructive, while MACD is about to turn positive. 
  • Long – Entry 29.18, Target 30.24, Stop 28.65 

Best World International Ltd (BEST SP) 

  • Shares closed above the 50dEMA. The 5dEMA crossed both the 20dEMA and 50dEMA. 
  • RSI is constructive, while MACD is negative. 
  • Long – Entry 1.70, Target 1.76, Stop 1.67 

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East Buy Holding Ltd (1797 HK) 

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  • Shares closed above the 50dEMA with a jump in volume. The 5dEMA crossed the 20dEMA. 
  • Both RSI and MACD are constructive. 
  • Long – Entry 31, Target 33, Stop 30 

CITIC Resources Holdings Ltd (1205 HK) 

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  • Shares closed above the 50dEMA with rising volume. The 5dEMA crossed the 20dEMA. 
  • RSI is constructive and MACD turned positive. 
  • Long – Entry 0.350, Target 0.375, Stop 0.338 

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GitLab Inc (GTLB) 

  • 3Q24 Revenue: $149.67M, +32.5% YoY, beat estimates by $8.66M 
  • 3Q24 Non-GAAP EPS: $0.09, beat estimates by $0.10 
  • 4Q24 Guidance: Revenue $157.0M – $158M; Non-GAAP operating income $5.0M – $6.0M; Non-GAAP EPS $0.08 – $0.09. FY24 Guidance: Revenue $573.0M – $574M; Non-GAAP operating loss $9.0M – $10.0M; Non-GAAP EPS $0.12 – $0.13. 
  • Comment: GitLab surpassed both revenue and earnings analyst expectations in Q3. This quarter marked GitLab’s first adjusted operating profit, with the company emphasising responsible growth and achieving over 2,200 basis points of non-GAAP operating margin expansion. The company’s revenue grew by 32% YoY, reaching 874 customers contributing over $100mn in annual recurring revenue. Its customers with more than $5,000 of ARR and more than $100,000 of ARR rose 26% to 8,175 and 37% to 874 respectively. Furthermore, its dollar-based net retention rate rose to 128% this quarter. Despite some customers transitioning from Microsoft-owned GitHub, GitLab remains cautious about economic conditions for small and medium-sized customers. The company anticipates further growth, with plans for integration into Amazon Web Services Q work assistant. GitLab’s outlook remains optimistic, reflecting sustained demand for its platform that seamlessly integrates security, compliance, and AI. The platform which enhances developer productivity while concurrently reducing software expenditure in the existing landscape is appealing to many companies. 4Q23 recommended trading range: $58 to $70. Positive Outlook. 

GitLab (GTLB)  

  • 24财年第三季营收：1.4967亿美元, 同比跌幅32.5%，超预期866万美元 
  • 24财年第三季Non-GAAP每股盈利：0.09美元，超预期0.10美元  
  • 24财年第四季指引：收入1.570亿至1.58亿美元；Non-GAAP营业收入500万至600万美元；Non-GAAP每股收益为0.08至0.09美元。24财年指引：收入5.73亿至5.74亿美元；non-GAAP经营亏损900万至1,000万美元；Non-GAAP每股收益0.12至0.13美元。 
  • 短评：GitLab第三季度的收入和收益都超出了分析师的预期。本季度是GitLab首次实现调整后营业利润，公司强调负责任的增长，实现了超过2200个基点的Non-GAAP营业利润率增长。公司收入同比增长32%，拥有874家客户，年经常性收入超过1亿美元。年经常性收入超过5,000美元的客户和年经常性收入超过100,000美元的客户分别增长26%至8,175家和37%至874家。此外，以美元计算的净留存率本季度上升至128%。尽管有一些客户是从微软旗下的GitHub转过来的，但GitLab对中小客户的经济状况仍持谨慎态度。该公司预计将进一步增长，并计划整合到亚马逊网络服务Q工作助理中。GitLab的前景仍然乐观，反映了对其平台的持续需求，该平台无缝集成了安全性、合规性和人工智能。该平台提高了开发人员的生产力，同时减少了现有环境下的软件支出，这对许多公司都很有吸引力。23财年第四季度建议交易区间：58美元至70美元。积极前景。 

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