GitLab Inc. (NASDAQ:GTLB) Receives Average Rating of “Hold” from Analysts

Shares of GitLab Inc. (NASDAQ:GTLB) have been assigned a consensus rating of “Hold” from the twenty-eight research firms that are covering the stock, Marketbeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, seventeen have given a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $51.75.

Several equities analysts recently weighed in on the company. Canaccord Genuity Group boosted their price objective on GitLab from $40.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Bank of America raised their target price on GitLab from $45.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, September 2nd. Cantor Fitzgerald upped their price target on GitLab from $35.00 to $50.00 and gave the stock a “neutral” rating in a report on Monday, August 31st. JPMorgan Chase & Co. upped their price target on GitLab from $32.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, August 26th. Finally, Wells Fargo & Company raised their price objective on shares of GitLab from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 2nd.

Insiders Place Their Bets

In other GitLab news, CAO Simon Mundy sold 8,725 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $38.00, for a total value of $331,550.00. Following the completion of the sale, the chief accounting officer directly owned 105,332 shares of the company’s stock, valued at $4,002,616. This represents a 7.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.64% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GTLB. Eminence Capital LP lifted its stake in shares of GitLab by 6.9% in the fourth quarter. Eminence Capital LP now owns 7,702,226 shares of the company’s stock valued at $289,065,000 after buying an additional 494,497 shares during the period. Atreides Management LP acquired a new stake in GitLab during the second quarter worth about $102,983,000. Geode Capital Management LLC increased its stake in GitLab by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 2,723,013 shares of the company’s stock valued at $102,216,000 after acquiring an additional 97,342 shares during the period. Norges Bank acquired a new position in GitLab in the 4th quarter valued at approximately $81,379,000. Finally, Technology Crossover Management X Ltd. raised its holdings in GitLab by 491.4% in the 4th quarter. Technology Crossover Management X Ltd. now owns 1,922,114 shares of the company’s stock valued at $72,137,000 after acquiring an additional 1,597,114 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

GitLab Price Performance

Shares of GTLB opened at $50.27 on Friday. The company has a market capitalization of $8.37 billion, a PE ratio of -157.09 and a beta of 0.99. GitLab has a one year low of $18.73 and a one year high of $55.55. The company’s fifty day moving average price is $40.30 and its 200 day moving average price is $30.61.

GitLab (NASDAQ:GTLB) last released its quarterly earnings results on Tuesday, September 1st. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. GitLab had a negative net margin of 4.99% and a negative return on equity of 1.28%. The company had revenue of $286.25 million during the quarter, compared to analysts’ expectations of $273.13 million. During the same period in the prior year, the company earned $0.24 earnings per share. The business’s quarterly revenue was up 21.3% compared to the same quarter last year. GitLab has set its FY 2027 guidance at 0.850-0.870 EPS and its Q3 2027 guidance at 0.190-0.200 EPS. Analysts anticipate that GitLab will post -0.28 earnings per share for the current year.

About GitLab

GitLab Inc (NASDAQ:GTLB) develops a software development and collaboration platform designed to help organizations plan, create, secure and deploy applications. Its platform brings together source code management, project planning, code review, continuous integration and continuous delivery (CI/CD), application security, compliance and monitoring capabilities in a unified DevSecOps environment.

GitLab serves businesses, government organizations and educational institutions across a range of industries and geographies.