GitLab (NASDAQ:GTLB) Trading Up 6.7% – Here’s Why

Shares of GitLab Inc. (NASDAQ:GTLB) rose 6.7% during mid-day trading on Monday . The stock traded as high as $34.87 and last traded at $34.91. Approximately 2,228,702 shares traded hands during trading, a decline of 63% from the average session volume of 6,079,072 shares. The stock had previously closed at $32.72.

Analysts Set New Price Targets

GTLB has been the topic of several recent research reports. William Blair reiterated an “underperform” rating on shares of GitLab in a research report on Monday, March 23rd. Morgan Stanley upped their target price on GitLab from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 3rd. Mizuho increased their price target on shares of GitLab from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Wednesday, June 3rd. Sanford C. Bernstein reissued an “outperform” rating on shares of GitLab in a research note on Monday, June 29th. Finally, Guggenheim restated a “neutral” rating on shares of GitLab in a report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, seventeen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $36.58.

GitLab Stock Performance

The business has a 50 day moving average price of $28.94 and a two-hundred day moving average price of $28.04. The company has a market cap of $5.89 billion, a P/E ratio of -217.95 and a beta of 0.96.

GitLab (NASDAQ:GTLB) last issued its earnings results on Tuesday, June 2nd. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. GitLab had a positive return on equity of 0.31% and a negative net margin of 2.49%.The company had revenue of $264.16 million during the quarter, compared to analysts’ expectations of $254.23 million. During the same period in the prior year, the business posted $0.17 EPS. GitLab’s quarterly revenue was up 23.2% compared to the same quarter last year. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. As a group, research analysts expect that GitLab Inc. will post -0.18 EPS for the current year.

Insider Buying and Selling at GitLab

In other news, Director Sytse Sijbrandij sold 116,200 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $28.44, for a total transaction of $3,304,728.00. Following the completion of the sale, the director owned 14,902,051 shares of the company’s stock, valued at approximately $423,814,330.44. This represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.64% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in GTLB. Goldman Sachs Group Inc. increased its position in shares of GitLab by 1.6% in the first quarter. Goldman Sachs Group Inc. now owns 776,521 shares of the company’s stock valued at $36,496,000 after acquiring an additional 12,200 shares during the period. Woodline Partners LP bought a new stake in shares of GitLab in the first quarter worth about $314,000. Russell Investments Group Ltd. grew its stake in shares of GitLab by 31.6% in the second quarter. Russell Investments Group Ltd. now owns 7,112 shares of the company’s stock worth $321,000 after purchasing an additional 1,709 shares during the last quarter. California Public Employees Retirement System increased its holdings in GitLab by 17.0% during the 2nd quarter. California Public Employees Retirement System now owns 167,870 shares of the company’s stock valued at $7,573,000 after purchasing an additional 24,448 shares during the period. Finally, State Street Corp increased its holdings in GitLab by 7.0% during the 2nd quarter. State Street Corp now owns 2,283,597 shares of the company’s stock valued at $103,013,000 after purchasing an additional 148,713 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

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.