GitLab (NASDAQ:GTLB) Sets New 12-Month Low After Analyst Downgrade

GitLab Inc. (NASDAQ:GTLB) shares reached a new 52-week low on Wednesday after Royal Bank Of Canada lowered their price target on the stock from $48.00 to $40.00. Royal Bank Of Canada currently has an outperform rating on the stock. GitLab traded as low as $29.58 and last traded at $29.7210, with a volume of 1281137 shares changing hands. The stock had previously closed at $31.55.

A number of other analysts have also commented on GTLB. Wells Fargo & Company decreased their target price on GitLab from $50.00 to $45.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 3rd. The Goldman Sachs Group reduced their price objective on GitLab from $48.00 to $42.00 and set a “neutral” rating for the company in a research note on Wednesday, December 3rd. Morgan Stanley lowered GitLab from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $55.00 to $42.00 in a research report on Monday, January 12th. DA Davidson reiterated a “neutral” rating and issued a $45.00 target price on shares of GitLab in a report on Monday, December 1st. Finally, UBS Group set a $42.00 price target on shares of GitLab in a research report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, GitLab has a consensus rating of “Hold” and a consensus target price of $50.17.

Insider Activity

In other news, Director Matthew Jacobson sold 334,827 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $38.08, for a total value of $12,750,212.16. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO James Shen sold 2,538 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $38.08, for a total value of $96,647.04. Following the completion of the transaction, the chief financial officer directly owned 52,284 shares of the company’s stock, valued at approximately $1,990,974.72. This represents a 4.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 766,644 shares of company stock worth $30,370,356. Corporate insiders own 21.36% of the company’s stock.

Hedge Funds Weigh In On GitLab

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Allworth Financial LP increased its holdings 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 last quarter. Quarry LP purchased a new stake in shares of GitLab during the 3rd quarter worth approximately $31,000. Lodestone Wealth Management LLC purchased a new stake in shares of GitLab during the 4th quarter worth approximately $36,000. Farther Finance Advisors LLC raised its holdings in shares of GitLab by 284.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 907 shares of the company’s stock worth $41,000 after purchasing an additional 671 shares during the period. Finally, Global Retirement Partners LLC lifted its stake in GitLab by 84.1% in the third quarter. Global Retirement Partners LLC now owns 974 shares of the company’s stock valued at $44,000 after purchasing an additional 445 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

GitLab Price Performance

The firm has a fifty day simple moving average of $36.43 and a two-hundred day simple moving average of $42.45. The firm has a market capitalization of $5.02 billion, a P/E ratio of -110.62 and a beta of 0.75.

GitLab (NASDAQ:GTLB) last issued its earnings results on Tuesday, December 2nd. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.05. The firm had revenue of $244.35 million for the quarter, compared to analyst estimates of $239.31 million. GitLab had a negative return on equity of 1.51% and a negative net margin of 4.70%.The business’s revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 earnings per share. GitLab has set its FY 2026 guidance at 0.950-0.960 EPS and its Q4 2026 guidance at 0.220-0.230 EPS. On average, research analysts anticipate that GitLab Inc. will post -0.31 EPS for the current year.

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.