GitLab Inc. (NASDAQ:GTLB) Stock Has Average Price Target of $51.75

Shares of GitLab Inc. (NASDAQ:GTLB) have received a consensus rating of “Hold” from the twenty-eight ratings firms that are covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $51.75.

Several equities analysts have recently weighed in on the company. Morgan Stanley raised their price target on GitLab from $30.00 to $57.00 and gave the company an “equal weight” rating in a report on Wednesday, September 2nd. Rosenblatt Securities lifted their price target on shares of GitLab from $43.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Zacks Research lowered GitLab from a “hold” rating to a “strong sell” rating in a report on Friday, September 4th. Barclays upped their target price on shares of GitLab from $25.00 to $47.00 and gave the company an “underweight” rating in a report on Wednesday, September 2nd. Finally, Mizuho lifted their price objective on GitLab from $34.00 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, September 2nd.

GitLab Stock Down 5.7%

Shares of GTLB stock opened at $52.76 on Tuesday. The business’s fifty day moving average is $47.48 and its 200 day moving average is $34.61. The stock has a market cap of $8.79 billion, a price-to-earnings ratio of -164.87 and a beta of 0.98. GitLab has a twelve month low of $18.73 and a twelve month high of $57.89.

GitLab (NASDAQ:GTLB) last issued 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 last year, the company posted $0.24 EPS. GitLab’s revenue was up 21.3% on a year-over-year basis. GitLab has set its FY 2027 guidance at 0.850-0.870 EPS and its Q3 2027 guidance at 0.190-0.200 EPS. Equities research analysts expect that GitLab will post -0.29 earnings per share for the current fiscal year.

Insider Transactions at GitLab

In related news, CAO Simon Mundy sold 8,725 shares of the company’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $38.00, for a total transaction of $331,550.00. Following the completion of the transaction, the chief accounting officer owned 105,332 shares in the company, valued at approximately $4,002,616. This represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Sivaprasad Padisetty sold 51,915 shares of the firm’s stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $45.78, for a total value of $2,376,668.70. Following the transaction, the chief technology officer owned 377,211 shares of the company’s stock, valued at approximately $17,268,719.58. The trade was a 12.10% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 2,176,840 shares of company stock valued at $103,798,494 over the last 90 days. Company insiders own 10.64% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Vontobel Holding Ltd. raised its position in GitLab by 11.8% during the third quarter. Vontobel Holding Ltd. now owns 14,238 shares of the company’s stock valued at $673,000 after purchasing an additional 1,507 shares during the period. Curated Wealth Partners LLC purchased a new position in shares of GitLab during the third quarter valued at approximately $407,000. NorthCrest Asset Manangement LLC bought a new position in shares of GitLab during the third quarter valued at approximately $199,000. GAMMA Investing LLC grew its position in GitLab by 27.3% in the 3rd quarter. GAMMA Investing LLC now owns 3,524 shares of the company’s stock valued at $167,000 after acquiring an additional 755 shares during the last quarter. Finally, Green Alpha Advisors LLC increased its stake in GitLab by 51.1% in the 3rd quarter. Green Alpha Advisors LLC now owns 10,485 shares of the company’s stock worth $495,000 after buying an additional 3,548 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

About GitLab

GitLab Inc (NASDAQ:GTLB) develops a cloud-based DevSecOps platform that helps organizations plan, create, secure and deploy software. Its platform brings together source code management, version control, issue tracking, project planning, continuous integration and continuous delivery, enabling development, operations and security teams to collaborate in a unified environment.

GitLab’s products also include application security testing, vulnerability management, compliance tools, infrastructure as code, software supply chain security and monitoring capabilities.