GitLab’s (GTLB) “Hold” Rating Reaffirmed at Truist Financial

GitLab (NASDAQ:GTLB)‘s stock had its “hold” rating restated by stock analysts at Truist Financial in a report released on Wednesday,Benzinga reports. They presently have a $44.00 target price on the stock, down from their previous target price of $55.00. Truist Financial’s target price points to a potential downside of 0.61% from the company’s previous close.

Several other research firms have also issued reports on GTLB. Morgan Stanley upped their price target on GitLab from $56.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, October 6th. DA Davidson lowered their target price on shares of GitLab from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Thursday, September 4th. UBS Group reduced their price target on shares of GitLab from $73.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, September 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $58.00 price objective on shares of GitLab in a research report on Thursday, September 4th. Finally, FBN Securities raised shares of GitLab to a “strong-buy” rating in a report on Thursday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, GitLab currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.38.

GitLab Stock Performance

GTLB opened at $44.27 on Wednesday. The company has a market capitalization of $7.38 billion, a P/E ratio of -1,106.75 and a beta of 0.74. The company has a 50-day moving average of $47.18 and a 200-day moving average of $46.17. GitLab has a 1-year low of $37.90 and a 1-year high of $74.18.

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

Insider Activity

In other GitLab news, Director Matthew Jacobson sold 396,147 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $50.53, for a total value of $20,017,307.91. Following the sale, the director owned 73,299 shares in the company, valued at approximately $3,703,798.47. This trade represents a 84.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sytse Sijbrandij sold 108,600 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $50.14, for a total value of $5,445,204.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,112,512 shares of company stock worth $54,778,271 in the last quarter. Company insiders own 21.36% of the company’s stock.

Institutional Investors Weigh In On GitLab

Hedge funds and other institutional investors have recently modified their holdings of the stock. Twin Tree Management LP acquired a new stake in shares of GitLab in the 1st quarter worth approximately $29,000. Quarry LP bought a new stake in GitLab during the third quarter worth approximately $31,000. Farther Finance Advisors LLC lifted its position in GitLab by 284.3% in the third quarter. Farther Finance Advisors LLC now owns 907 shares of the company’s stock worth $41,000 after purchasing an additional 671 shares during the period. Harbour Investments Inc. boosted its stake in GitLab by 447.6% during the 1st quarter. Harbour Investments Inc. now owns 898 shares of the company’s stock valued at $42,000 after purchasing an additional 734 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its stake in GitLab by 84.1% during the 3rd quarter. Global Retirement Partners LLC now owns 974 shares of the company’s stock valued at $44,000 after purchasing an additional 445 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.

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.