GitLab Inc. (NASDAQ:GTLB) Receives $39.62 Consensus Target Price from Brokerages

GitLab Inc. (NASDAQ:GTLB) has been given an average rating of “Hold” by the thirty brokerages that are presently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $39.6154.

A number of brokerages recently issued reports on GTLB. Rosenblatt Securities decreased their price objective on GitLab from $55.00 to $43.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Royal Bank Of Canada cut their target price on GitLab from $40.00 to $33.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 4th. DA Davidson set a $24.00 price target on GitLab in a research note on Thursday, March 5th. Sanford C. Bernstein lowered their price target on GitLab from $70.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, March 4th. Finally, Zacks Research cut shares of GitLab from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd.

GitLab Stock Up 2.7%

GTLB stock opened at $22.57 on Friday. GitLab has a fifty-two week low of $20.20 and a fifty-two week high of $54.08. The firm’s 50-day simple moving average is $27.15 and its 200 day simple moving average is $37.21. The stock has a market cap of $3.84 billion, a PE ratio of -64.49 and a beta of 0.85.

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

Insider Transactions at GitLab

In other GitLab news, Director Sytse Sijbrandij sold 54,300 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $28.41, for a total value of $1,542,663.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew Jacobson sold 459,799 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $22.37, for a total transaction of $10,285,703.63. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,268,508 shares of company stock worth $29,848,496 over the last 90 days. 16.37% of the stock is owned by insiders.

Institutional Investors Weigh In On GitLab

Institutional investors and hedge funds have recently modified their holdings of the stock. Allworth Financial LP raised its position in shares of GitLab by 124.1% during the third quarter. Allworth Financial LP now owns 558 shares of the company’s stock worth $25,000 after purchasing an additional 309 shares during the period. Quarry LP purchased a new position in GitLab in the 3rd quarter worth about $31,000. Farther Finance Advisors LLC raised its holdings in GitLab by 284.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 907 shares of the company’s stock worth $41,000 after buying an additional 671 shares during the period. Lodestone Wealth Management LLC purchased a new stake in GitLab during the fourth quarter valued at about $36,000. Finally, Global Retirement Partners LLC boosted its holdings in shares of GitLab by 84.1% in the third quarter. Global Retirement Partners LLC now owns 974 shares of the company’s stock worth $44,000 after buying an additional 445 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

About GitLab

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.