5 Best Tech Stocks to Buy On the Dip

4. GitLab Inc. (NASDAQ:GTLB)

Number of Hedge Fund Holders: 37

Share Price Decline in the Past Six Months: 24%

GitLab Inc. (NASDAQ:GTLB) shares plunged after the company gave soft revenue guidance for 2023 in March. However, BofA analyst Koji Ikeda reiterated a Buy rating on GitLab Inc. (NASDAQ:GTLB) but decreased the price target to $50 from $75. The analyst believes GitLab Inc. (NASDAQ:GTLB)’s guidance was conservative and does not include “any price increases.”

Insider Monkey’s database of 943 hedge funds shows that 37 hedge funds had stakes in GitLab Inc. (NASDAQ:GTLB). The total value of these stakes was $712 million. The biggest stakeholder of GitLab Inc. (NASDAQ:GTLB) during this period was Mick Hellman’s HMI Capital which owns a $90 million stake in the company.