GitLab Inc. (NASDAQ:GTLB) Stock Has Consensus Target Price of $52.33 According to Brokerages

Shares of GitLab Inc. (NASDAQ:GTLB) have earned a consensus rating of “Hold” from the twenty-eight analysts that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $52.33.

Several equities research analysts have recently issued reports on GTLB shares. Needham & Company LLC raised their price target on GitLab from $38.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Robert W. Baird boosted their price objective on GitLab from $47.00 to $59.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 2nd. Wells Fargo & Company increased their target price on GitLab from $40.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 2nd. Guggenheim reaffirmed a “neutral” rating on shares of GitLab in a report on Wednesday, September 2nd. Finally, Mizuho lifted their price target on GitLab from $34.00 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 2nd.

GitLab Stock Performance

NASDAQ GTLB opened at $47.12 on Friday. The stock’s 50-day moving average price is $50.98 and its two-hundred day moving average price is $34.64. GitLab has a 1 year low of $18.73 and a 1 year high of $58.01.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings results on Tuesday, September 1st. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. The business had revenue of $286.25 million for the quarter, compared to the consensus estimate of $273.13 million. GitLab had a negative return on equity of 1.28% and a negative net margin of 4.99%. GitLab’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 earnings per share. GitLab has set its FY 2027 guidance at 0.850-0.870 EPS and its Q3 2027 guidance at 0.190-0.200 EPS. As a group, equities analysts expect that GitLab will post -0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Sytse Sijbrandij sold 116,200 shares of the company’s stock in a transaction dated Monday, October 19th. The shares were sold at an average price of $53.27, for a total value of $6,189,974.00. Following the sale, the director owned 12,669,651 shares of the company’s stock, valued at $674,912,308.77. The trade was a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Sivaprasad Padisetty sold 51,915 shares of the company’s stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $45.78, for a total value of $2,376,668.70. Following the completion of the sale, the chief technology officer owned 377,211 shares in the company, valued at approximately $17,268,719.58. This represents a 12.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 2,284,315 shares of company stock worth $109,656,918. 10.64% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GitLab

A number of hedge funds have recently added to or reduced their stakes in GTLB. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of GitLab during the third quarter valued at $35,000. Tsfg LLC acquired a new stake in shares of GitLab during the 2nd quarter worth approximately $31,000. Fifth Third Bancorp raised its stake in shares of GitLab by 220.6% during the first quarter. Fifth Third Bancorp now owns 1,603 shares of the company’s stock worth $35,000 after buying an additional 1,103 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of GitLab by 300.6% during the second quarter. Versant Capital Management Inc now owns 1,867 shares of the company’s stock worth $57,000 after buying an additional 1,401 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of GitLab by 24.8% during the third quarter. Nisa Investment Advisors LLC now owns 2,181 shares of the company’s stock worth $103,000 after buying an additional 433 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

About GitLab

GitLab Inc develops a software platform that helps organizations manage the software development lifecycle. Its tools support planning, source-code management, collaboration, continuous integration and delivery, security testing, and application monitoring.

The GitLab platform brings these capabilities together in a single application, available as a cloud-hosted service or for customers to install and manage in their own environments. The company serves organizations in a range of industries and geographies, from individual developers to large enterprises.

GitLab began as an open-source project in 2011, created by Dmitriy Zaporozhets and later developed with co-founder Sid Sijbrandij.