GitLab (NASDAQ:GTLB) Rating Increased to Strong-Buy at Zacks Research

GitLab (NASDAQ:GTLB) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other equities research analysts have also issued reports on the company. Canaccord Genuity Group decreased their price target on GitLab from $76.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, September 4th. UBS Group decreased their price target on GitLab from $73.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, September 4th. Royal Bank Of Canada reissued an “outperform” rating and set a $62.00 price target on shares of GitLab in a research note on Wednesday, June 25th. Guggenheim assumed coverage on GitLab in a research note on Thursday, September 11th. They set a “buy” rating and a $70.00 price target for the company. Finally, Rosenblatt Securities reissued a “buy” rating and set a $58.00 price target on shares of GitLab in a research note on Thursday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $58.83.

GitLab Stock Performance

Shares of GitLab stock opened at $46.86 on Wednesday. GitLab has a one year low of $37.90 and a one year high of $74.18. The stock has a market cap of $7.81 billion, a price-to-earnings ratio of -1,171.50 and a beta of 0.73. The stock has a 50 day moving average price of $46.02 and a 200-day moving average price of $45.88.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings results on Wednesday, September 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.19). GitLab had a negative return on equity of 2.71% and a negative net margin of 0.55%.The business had revenue of $236.00 million for the quarter, compared to the consensus estimate of $227.20 million. During the same period in the prior year, the business posted $0.15 earnings per share. GitLab’s revenue was up 29.2% on a year-over-year basis. GitLab has set its FY 2026 guidance at 0.820-0.830 EPS. Q3 2026 guidance at 0.190-0.200 EPS. Sell-side analysts predict that GitLab will post -0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Matthew Jacobson sold 396,147 shares of the business’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $50.53, for a total value of $20,017,307.91. Following the completion of the transaction, the director directly owned 73,299 shares of the company’s stock, valued at approximately $3,703,798.47. The trade was a 84.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sytse Sijbrandij sold 108,600 shares of the business’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $45.16, for a total value of $4,904,376.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,224,362 shares of company stock valued at $59,723,796. 16.37% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in GTLB. GAMMA Investing LLC raised its position in shares of GitLab by 9,968.3% in the 1st quarter. GAMMA Investing LLC now owns 43,193 shares of the company’s stock worth $2,030,000 after acquiring an additional 42,764 shares in the last quarter. Park Avenue Securities LLC raised its position in shares of GitLab by 5.3% in the 1st quarter. Park Avenue Securities LLC now owns 7,601 shares of the company’s stock worth $357,000 after acquiring an additional 381 shares in the last quarter. Wealthcare Advisory Partners LLC raised its position in shares of GitLab by 19.3% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 6,578 shares of the company’s stock worth $309,000 after acquiring an additional 1,065 shares in the last quarter. Avanza Fonder AB raised its position in shares of GitLab by 186.0% in the 1st quarter. Avanza Fonder AB now owns 14,121 shares of the company’s stock worth $682,000 after acquiring an additional 9,183 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its position in shares of GitLab by 18.7% in the 1st quarter. Handelsbanken Fonder AB now owns 36,800 shares of the company’s stock worth $1,730,000 after acquiring an additional 5,800 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

GitLab Company Profile

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.