GitLab (NASDAQ:GTLB) Announces Quarterly Earnings Results

GitLab (NASDAQ:GTLB) announced its quarterly earnings results on Tuesday. The company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05, FiscalAI reports. GitLab had a negative return on equity of 2.71% and a negative net margin of 0.55%. GitLab updated its FY 2026 guidance to 0.950-0.960 EPS and its Q4 2026 guidance to 0.220-0.230 EPS.

GitLab Stock Up 5.4%

GTLB stock traded up $2.22 during midday trading on Tuesday, reaching $43.37. 8,947,623 shares of the company’s stock traded hands, compared to its average volume of 3,895,479. The firm’s fifty day moving average price is $45.65 and its 200-day moving average price is $45.64. GitLab has a 52 week low of $37.90 and a 52 week high of $74.18. The company has a market cap of $7.23 billion, a price-to-earnings ratio of -1,084.25 and a beta of 0.75.

Wall Street Analysts Forecast Growth

GTLB has been the topic of several research analyst reports. Macquarie restated an “outperform” rating and set a $75.00 target price on shares of GitLab in a research report on Thursday, September 4th. Piper Sandler cut their price target on GitLab from $85.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, September 4th. Guggenheim assumed coverage on shares of GitLab in a research note on Thursday, September 11th. They issued a “buy” rating and a $70.00 price objective for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of GitLab in a research note on Wednesday, October 8th. Finally, UBS Group reduced their price target on shares of GitLab from $73.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.87.

Insider Activity

In other GitLab news, Director Matthew Jacobson sold 396,147 shares of GitLab stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $50.53, for a total transaction of $20,017,307.91. Following the completion of the transaction, the director owned 73,299 shares in the company, valued at approximately $3,703,798.47. The trade was a 84.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Simon Mundy sold 5,191 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $43.99, for a total value of $228,352.09. Following the completion of the sale, the chief accounting officer directly owned 53,507 shares of the company’s stock, valued at approximately $2,353,772.93. This trade represents a 8.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,329,712 shares of company stock worth $64,154,795 over the last three months. 16.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of GTLB. Russell Investments Group Ltd. raised its position in GitLab by 31.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,112 shares of the company’s stock valued at $321,000 after buying an additional 1,709 shares during the last quarter. Woodline Partners LP purchased a new position in GitLab during the 1st quarter worth $314,000. BOKF NA grew its stake in shares of GitLab by 31.6% in the 3rd quarter. BOKF NA now owns 6,340 shares of the company’s stock worth $286,000 after acquiring an additional 1,522 shares in the last quarter. QVT Financial LP purchased a new stake in shares of GitLab in the second quarter valued at about $263,000. Finally, Vident Advisory LLC bought a new position in shares of GitLab during the second quarter valued at about $240,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

About GitLab

GitLab Inc, through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. It offers GitLab, a DevOps platform, which is a single application that leads to faster cycle time and allows visibility throughout and control over various stages of the DevOps lifecycle.