GitLab (NASDAQ:GTLB) Hits New 1-Year Low – Here’s What Happened

Shares of GitLab Inc. (NASDAQ:GTLB) reached a new 52-week low during trading on Monday . The stock traded as low as $21.77 and last traded at $22.3530, with a volume of 665394 shares traded. The stock had previously closed at $22.25.

Analyst Ratings Changes

A number of brokerages have weighed in on GTLB. Cantor Fitzgerald reissued a “neutral” rating on shares of GitLab in a research note on Wednesday, March 4th. William Blair reaffirmed an “underperform” rating on shares of GitLab in a research report on Monday. Sanford C. Bernstein dropped their target price on GitLab from $70.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, March 4th. Royal Bank Of Canada reduced their target price on GitLab from $40.00 to $33.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 4th. Finally, KeyCorp lowered GitLab from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, GitLab currently has a consensus rating of “Hold” and an average price target of $39.62.

GitLab Stock Performance

The stock’s fifty day simple moving average is $29.59 and its two-hundred day simple moving average is $38.74. The company has a market cap of $3.74 billion, a price-to-earnings ratio of -63.47 and a beta of 0.79.

GitLab (NASDAQ:GTLB) last released its quarterly earnings data on Tuesday, March 3rd. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. The business had revenue of $260.40 million during the quarter, compared to the consensus estimate of $252.31 million. GitLab had a negative return on equity of 1.73% and a negative net margin of 5.86%.The business’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.33 EPS. Analysts predict that GitLab Inc. will post -0.31 EPS for the current fiscal year.

Insider Activity

In other news, Director Sytse Sijbrandij sold 54,300 shares of GitLab stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $28.41, for a total value of $1,542,663.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO James Shen sold 2,538 shares of the business’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $38.08, for a total value of $96,647.04. Following the sale, the chief financial officer owned 52,284 shares of the company’s stock, valued at $1,990,974.72. The trade was a 4.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 111,138 shares of company stock valued at $3,591,938 over the last 90 days. 21.36% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP grew its stake in GitLab by 124.1% during the third quarter. Allworth Financial LP now owns 558 shares of the company’s stock worth $25,000 after buying an additional 309 shares during the period. Quarry LP purchased a new position in shares of GitLab in the 3rd quarter valued at $31,000. Lodestone Wealth Management LLC acquired a new position in shares of GitLab during the 4th quarter valued at $36,000. Farther Finance Advisors LLC lifted its holdings in shares of GitLab by 284.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 907 shares of the company’s stock valued at $41,000 after acquiring an additional 671 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its position in GitLab by 84.1% during the 3rd quarter. Global Retirement Partners LLC now owns 974 shares of the company’s stock worth $44,000 after purchasing an additional 445 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.

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.