Gitlab (GTLB) Jumps 10% on DataDog Acquisition Buzz

We recently published Market Downturn? Not for these 10 Stocks; 7 Jump to Record Highs. GitLab Inc. (NASDAQ:GTLB) is one of the best performers on Thursday.

GitLab grew its share prices by 10.6 percent on Thursday to end at $48.27 apiece as investors snapped up shares following reports that it was being eyed for takeover anew by DataDog Inc.

Citing sources privy to the matter, a report by Street Insider said that DataDog is currently in coordination with Morgan Stanley for the potential acquisition, with an offer price set to be around $60 per share.

The reports followed earlier buzz that GitLab Inc. (NASDAQ:GTLB) was exploring a sale since July 2024 after attracting strong acquisition interest.

Neither DataDog nor GitLab Inc. (NASDAQ:GTLB) has confirmed the reports.

GitLab Inc. (NASDAQ:GTLB) is an AI-powered Development, Security, and Operations platform, which enables organizations to increase developer productivity, improve operational efficiency, reduce security and compliance risk, and accelerate digital transformation.

At present, the company boasts of 50 million registered users, claiming that more than 50 percent of the Fortune 100 companies trust GitLab to secure their software.

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Disclosure: None. This article is originally published at Insider Monkey.