GitLab Inc. (NASDAQ:GTLB) Given Average Rating of “Hold” by Brokerages

GitLab Inc. (NASDAQ:GTLB) has been assigned an average rating of “Hold” from the thirty analysts that are covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, eighteen have assigned a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $37.0769.

Several brokerages have recently weighed in on GTLB. Weiss Ratings restated a “sell (e+)” rating on shares of GitLab in a report on Tuesday, May 12th. Barclays cut their price objective on GitLab from $29.00 to $25.00 and set an “underweight” rating for the company in a report on Wednesday, March 4th. TD Cowen lowered GitLab from a “buy” rating to a “hold” rating and set a $29.00 price objective for the company. in a report on Monday, March 2nd. Bank of America lowered GitLab from a “buy” rating to a “neutral” rating and cut their price objective for the company from $58.00 to $27.00 in a report on Wednesday, April 22nd. Finally, Morgan Stanley cut their price objective on GitLab from $38.00 to $29.00 and set a “cautious” rating for the company in a report on Monday, March 9th.

GitLab Stock Performance

Shares of GTLB stock opened at $26.70 on Friday. GitLab has a 1 year low of $18.73 and a 1 year high of $52.38. The stock has a fifty day moving average of $22.46 and a two-hundred day moving average of $31.49. The firm has a market capitalization of $4.54 billion, a PE ratio of -76.29 and a beta of 0.82.

GitLab (NASDAQ:GTLB) last announced its quarterly earnings results 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. GitLab had a negative return on equity of 1.73% and a negative net margin of 5.86%.The company had revenue of $260.40 million during the quarter, compared to analyst estimates of $252.31 million. During the same quarter in the previous year, the firm posted $0.33 EPS. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. Equities research analysts predict that GitLab will post -0.28 earnings per share for the current fiscal year.

Insider Buying and Selling at GitLab

In other news, Director Sytse Sijbrandij sold 116,200 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $24.85, for a total value of $2,887,570.00. Following the completion of the sale, the director owned 15,018,251 shares in the company, valued at $373,203,537.35. This represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Jacobson sold 459,799 shares of the company’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $22.37, for a total value of $10,285,703.63. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 1,392,308 shares of company stock valued at $31,654,249. Insiders own 10.64% of the company’s stock.

Institutional Trading of GitLab

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of GitLab by 9.2% in the third quarter. Vanguard Group Inc. now owns 15,281,775 shares of the company’s stock valued at $688,902,000 after buying an additional 1,285,881 shares during the period. Eminence Capital LP raised its position in shares of GitLab by 6.9% during the fourth quarter. Eminence Capital LP now owns 7,702,226 shares of the company’s stock worth $289,065,000 after purchasing an additional 494,497 shares during the period. Atreides Management LP raised its position in shares of GitLab by 38.9% during the third quarter. Atreides Management LP now owns 5,470,305 shares of the company’s stock worth $246,601,000 after purchasing an additional 1,532,107 shares during the period. AQR Capital Management LLC raised its position in shares of GitLab by 766.3% during the fourth quarter. AQR Capital Management LLC now owns 5,433,375 shares of the company’s stock worth $203,915,000 after purchasing an additional 4,806,163 shares during the period. Finally, Champlain Investment Partners LLC raised its position in shares of GitLab by 4.2% during the third quarter. Champlain Investment Partners LLC now owns 4,703,281 shares of the company’s stock worth $212,024,000 after purchasing an additional 191,084 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.