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

Shares of GitLab Inc. (NASDAQ:GTLB) have earned a consensus recommendation of “Hold” from the thirty brokerages that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $39.6154.

A number of brokerages have weighed in on GTLB. Piper Sandler downgraded shares of GitLab from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $55.00 to $28.00 in a research report on Wednesday, March 4th. Rosenblatt Securities dropped their target price on GitLab from $55.00 to $43.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. The Goldman Sachs Group cut their price target 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 reduced their price target on GitLab from $38.00 to $29.00 and set a “cautious” rating for the company in a report on Monday, March 9th. Finally, DA Davidson set a $24.00 price target on GitLab in a research report on Thursday, March 5th.

Insider Transactions at GitLab

In related news, CFO James Shen sold 2,538 shares of the business’s stock in a transaction 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 sale, the chief financial officer owned 52,284 shares of the company’s stock, valued at approximately $1,990,974.72. The trade was a 4.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sytse Sijbrandij sold 54,300 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $28.41, for a total transaction of $1,542,663.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,271,046 shares of company stock valued at $29,945,143 in the last three months. 16.37% of the stock is currently owned by company insiders.

Institutional Trading of GitLab

Several institutional investors have recently modified their holdings of the stock. Allworth Financial LP raised its position in shares of GitLab by 124.1% during the 3rd quarter. Allworth Financial LP now owns 558 shares of the company’s stock worth $25,000 after purchasing an additional 309 shares during the last quarter. Quarry LP purchased a new position in GitLab in the 3rd quarter valued at about $31,000. Farther Finance Advisors LLC boosted its holdings in 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 buying an additional 671 shares during the last quarter. Lodestone Wealth Management LLC acquired a new stake in GitLab in the 4th quarter worth about $36,000. Finally, Global Retirement Partners LLC increased its stake in GitLab by 84.1% during the 3rd quarter. Global Retirement Partners LLC now owns 974 shares of the company’s stock worth $44,000 after buying an additional 445 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

GitLab Price Performance

NASDAQ:GTLB opened at $21.25 on Friday. The company has a 50 day moving average price of $28.44 and a 200-day moving average price of $38.17. GitLab has a 1-year low of $20.26 and a 1-year high of $54.08. The firm has a market cap of $3.58 billion, a price-to-earnings ratio of -60.71 and a beta of 0.79.

GitLab (NASDAQ:GTLB) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. The firm had revenue of $260.40 million for the quarter, compared to the consensus estimate of $252.31 million. GitLab had a negative net margin of 5.86% and a negative return on equity of 1.73%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.33 earnings per share. On average, sell-side analysts anticipate that GitLab will post -0.31 earnings per share for the current fiscal 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.