GitLab (NASDAQ:GTLB) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of GitLab (NASDAQ:GTLB) in a research note issued to investors on Wednesday,Benzinga reports. Needham & Company LLC currently has a $50.00 target price on the stock.

Several other analysts also recently issued reports on GTLB. Zacks Research downgraded shares of GitLab from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Truist Financial set a $35.00 target price on GitLab in a research note on Thursday, February 5th. Canaccord Genuity Group reiterated a “buy” rating and set a $70.00 target price on shares of GitLab in a research report on Wednesday, December 3rd. BTIG Research initiated coverage on shares of GitLab in a research note on Tuesday, December 16th. They set a “buy” rating and a $52.00 target price for the company. Finally, Piper Sandler cut their price target on shares of GitLab from $70.00 to $55.00 and set an “overweight” rating on the stock in a report on Monday, January 5th. 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 given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $50.17.

GitLab Price Performance

NASDAQ GTLB opened at $30.02 on Wednesday. GitLab has a 1-year low of $29.39 and a 1-year high of $72.17. The business has a 50 day simple moving average of $36.28 and a two-hundred day simple moving average of $42.36. The stock has a market capitalization of $5.06 billion, a PE ratio of -111.19 and a beta of 0.75.

GitLab (NASDAQ:GTLB) last posted its earnings results on Tuesday, December 2nd. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. GitLab had a negative net margin of 4.70% and a negative return on equity of 1.51%. The firm had revenue of $244.35 million for the quarter, compared to the consensus estimate of $239.31 million. During the same period in the previous year, the firm posted $0.23 EPS. The business’s quarterly revenue was up 24.6% on a year-over-year basis. 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, analysts anticipate that GitLab will post -0.31 EPS for the current fiscal year.

Insider Buying and Selling at GitLab

In related news, Director Matthew Jacobson sold 334,827 shares of the firm’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $38.08, for a total transaction of $12,750,212.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO James Shen sold 2,538 shares of GitLab stock in a transaction dated 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 owned 52,284 shares in the company, valued at $1,990,974.72. This trade represents a 4.63% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 766,644 shares of company stock worth $30,370,356. 16.37% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of GitLab during the third quarter worth $2,029,000. Coronation Fund Managers Ltd. acquired a new stake in GitLab during the 2nd quarter worth about $23,102,000. Nordea Investment Management AB raised its stake in shares of GitLab by 85.5% during the 3rd quarter. Nordea Investment Management AB now owns 1,132,977 shares of the company’s stock valued at $51,392,000 after buying an additional 522,075 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in shares of GitLab by 23.3% in the 2nd quarter. William Blair Investment Management LLC now owns 580,752 shares of the company’s stock valued at $26,198,000 after buying an additional 109,708 shares during the period. Finally, ARK Investment Management LLC boosted its stake in shares of GitLab by 35.7% in the second quarter. ARK Investment Management LLC now owns 3,292,685 shares of the company’s stock worth $148,533,000 after buying an additional 866,353 shares during the last quarter. Hedge funds and other institutional investors 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.