Mizuho Cuts GitLab (NASDAQ:GTLB) Price Target to $30.00

GitLab (NASDAQ:GTLB) had its price target lowered by Mizuho from $37.00 to $30.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.

GTLB has been the subject of several other reports. Truist Financial set a $35.00 target price on GitLab in a report on Thursday, February 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of GitLab in a report on Monday, December 22nd. Canaccord Genuity Group restated a “buy” rating and issued a $70.00 price objective on shares of GitLab in a research note on Wednesday, December 3rd. JPMorgan Chase & Co. raised their target price on GitLab from $52.00 to $53.00 and gave the company a “neutral” rating in a research report on Wednesday, December 3rd. Finally, Wolfe Research reiterated an “outperform” rating and set a $50.00 target price on shares of GitLab in a research note on Wednesday, December 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, GitLab currently has a consensus rating of “Hold” and an average price target of $39.96.

GitLab Price Performance

GTLB opened at $24.91 on Wednesday. GitLab has a fifty-two week low of $23.10 and a fifty-two week high of $58.75. The firm has a market capitalization of $4.19 billion, a P/E ratio of -71.17 and a beta of 0.79. The company’s 50-day moving average is $32.39 and its 200 day moving average is $40.45.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported $0.30 earnings per share (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 net margin of 5.86% and a negative return on equity of 1.79%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.33 EPS. On average, equities research analysts expect that GitLab will post -0.31 earnings per share for the current year.

Insider Activity at GitLab

In related news, CFO James Shen sold 2,538 shares of GitLab 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 completion of the sale, the chief financial officer owned 52,284 shares of the company’s stock, valued at approximately $1,990,974.72. This trade represents a 4.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Susan L. Bostrom sold 70,000 shares of the business’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $39.55, for a total value of $2,768,500.00. Following the completion of the sale, the director owned 79,819 shares in the company, valued at $3,156,841.45. This represents a 46.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 603,744 shares of company stock worth $22,536,495 in the last three months. Corporate insiders own 16.37% of the company’s stock.

Institutional Trading of GitLab

Institutional investors have recently modified their holdings of the business. Alpine Global Management LLC bought a new position in GitLab in the 4th quarter worth approximately $338,000. Pacer Advisors Inc. bought a new stake in shares of GitLab during the 4th quarter valued at $14,788,000. Kera Capital Partners Inc. bought a new position in GitLab in the 4th quarter worth about $224,000. Invesco Ltd. grew its holdings in GitLab by 16.0% during the 4th quarter. Invesco Ltd. now owns 167,136 shares of the company’s stock valued at $6,273,000 after buying an additional 23,035 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its position in shares of GitLab by 650.8% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 60,691 shares of the company’s stock valued at $2,278,000 after buying an additional 52,608 shares during the period. 95.04% of the stock is currently owned by hedge funds and other 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.