Shares of GitLab Inc. (NASDAQ:GTLB – Get Free Report) have been given an average recommendation of “Hold” by the thirty ratings firms that are currently covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation, eighteen have assigned a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $37.0769.
Several equities research analysts have issued reports on GTLB shares. Barclays lowered their price target on GitLab from $29.00 to $25.00 and set an “underweight” rating for the company in a report on Wednesday, March 4th. Sanford C. Bernstein lowered their price target on GitLab from $70.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, March 4th. TD Cowen downgraded GitLab from a “buy” rating to a “hold” rating and set a $29.00 price target for the company. in a report on Monday, March 2nd. Piper Sandler downgraded GitLab from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $55.00 to $28.00 in a report on Wednesday, March 4th. Finally, Mizuho lowered their price target on GitLab from $30.00 to $26.00 and set a “neutral” rating for the company in a report on Tuesday, May 12th.
View Our Latest Analysis on GTLB
GitLab Trading Up 6.0%
GitLab (NASDAQ:GTLB – Get Free Report) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.07. GitLab had a negative return on equity of 1.73% and a negative net margin of 5.86%.The company had revenue of $260.40 million during the quarter, compared to the consensus estimate of $252.31 million. During the same period in the prior year, the company earned $0.33 earnings per share. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. Sell-side analysts forecast that GitLab will post -0.28 earnings per share for the current year.
Insider Activity
In other news, Director Sytse Sijbrandij sold 116,200 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $24.85, for a total transaction of $2,887,570.00. Following the completion of the transaction, the director directly owned 15,018,251 shares of the company’s stock, valued at $373,203,537.35. This represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Jacobson sold 700,109 shares of the company’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $22.95, for a total value of $16,067,501.55. Following the transaction, the director directly owned 325 shares of the company’s stock, valued at $7,458.75. This represents a 99.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,392,308 shares of company stock valued at $31,654,249 over the last ninety days. 10.64% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of GitLab by 9.2% during the third quarter. Vanguard Group Inc. now owns 15,281,775 shares of the company’s stock worth $688,902,000 after buying an additional 1,285,881 shares during the period. Eminence Capital LP boosted its position in shares of GitLab by 6.9% during the fourth quarter. Eminence Capital LP now owns 7,702,226 shares of the company’s stock worth $289,065,000 after buying an additional 494,497 shares during the period. Atreides Management LP boosted its position in shares of GitLab by 38.9% during the third quarter. Atreides Management LP now owns 5,470,305 shares of the company’s stock worth $246,601,000 after buying an additional 1,532,107 shares during the period. AQR Capital Management LLC boosted its position in shares of GitLab by 766.3% during the fourth quarter. AQR Capital Management LLC now owns 5,433,375 shares of the company’s stock worth $203,915,000 after buying an additional 4,806,163 shares during the period. Finally, Champlain Investment Partners LLC boosted its position in shares of GitLab by 4.2% during the third quarter. Champlain Investment Partners LLC now owns 4,703,281 shares of the company’s stock worth $212,024,000 after buying an additional 191,084 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.
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.
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