We have narrowed our search to five mid-cap technology stocks for the rest of 2024. These stocks are: PAYC, DBX, GTLB, PI, CACI.
The average of price targets set by Wall Street analysts indicates a potential upside of 34% in Gitlab (GTLB). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.
The heavy selling pressure might have exhausted for Gitlab (GTLB) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.