Brokerages Set GitLab Inc. (NASDAQ:GTLB) Target Price at $48.33

GitLab Inc. (NASDAQ:GTLB) has earned an average recommendation of “Hold” from the twenty-nine ratings firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $39.9615.

Several equities research analysts recently issued reports on GTLB shares. Needham & Company LLC decreased their price target on GitLab from $50.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. DA Davidson set a $24.00 price objective on shares of GitLab in a report on Thursday. Mizuho reduced their target price on shares of GitLab from $37.00 to $30.00 and set a “neutral” rating for the company in a research note on Wednesday, March 4th. Barclays dropped their price target on shares of GitLab from $29.00 to $25.00 and set an “underweight” rating on the stock in a research report on Wednesday, March 4th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of GitLab in a report on Wednesday.

GitLab Stock Performance

GTLB stock opened at $24.61 on Monday. The business has a 50-day simple moving average of $32.39 and a two-hundred day simple moving average of $40.40. The company has a market capitalization of $4.14 billion, a P/E ratio of -70.31 and a beta of 0.79. GitLab has a 52-week low of $23.10 and a 52-week high of $54.80.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.23 by $0.07. GitLab had a negative return on equity of 1.79% and a negative net margin of 5.86%.The firm had revenue of $260.40 million during the quarter, compared to the consensus estimate of $252.31 million. During the same period in the prior year, the business posted $0.33 earnings per share. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, sell-side analysts forecast that GitLab will post -0.31 earnings per share for the current fiscal year.

Insider Transactions at GitLab

In related news, Director Susan L. Bostrom sold 30,000 shares of GitLab stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $39.25, for a total transaction of $1,177,500.00. Following the sale, the director directly owned 49,819 shares in the company, valued at approximately $1,955,395.75. This trade represents a 37.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Matthew Jacobson sold 334,827 shares of the company’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $38.08, for a total value of $12,750,212.16. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 533,744 shares of company stock worth $19,767,995. 21.36% of the stock is owned by insiders.

Institutional Investors Weigh In On GitLab

A number of hedge funds have recently made changes to their positions in the business. Blue Trust Inc. increased its stake in shares of GitLab by 3.6% in the third quarter. Blue Trust Inc. now owns 8,770 shares of the company’s stock worth $395,000 after buying an additional 302 shares during the period. Allworth Financial LP raised its holdings in GitLab by 124.1% during the 3rd quarter. Allworth Financial LP now owns 558 shares of the company’s stock valued at $25,000 after buying an additional 309 shares during the last quarter. Summit Global Investments boosted its position in GitLab by 2.2% during the 2nd quarter. Summit Global Investments now owns 15,193 shares of the company’s stock valued at $685,000 after buying an additional 331 shares during the period. Main Management ETF Advisors LLC grew its holdings in GitLab by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 33,669 shares of the company’s stock worth $1,264,000 after acquiring an additional 344 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in GitLab by 20.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,139 shares of the company’s stock worth $102,000 after acquiring an additional 358 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

GitLab Company Profile

GitLab Inc (NASDAQ: GTLB) is a leading provider of a unified DevOps platform designed to streamline the software development lifecycle. Founded in 2011 by Dmitriy Zaporozhets and Sid Sijbrandij, the company initially gained recognition for its open-source Git repository manager. Over time, GitLab expanded its offerings to encompass planning, source code management, continuous integration/continuous deployment (CI/CD), security testing, and monitoring in a single application. This integrated approach enables development teams to collaborate efficiently, reduce toolchain complexity, and accelerate release cycles.

The GitLab platform is offered through both cloud-hosted and self-managed deployment models, catering to organizations of all sizes.