Brokerages Set GitLab Inc. (NASDAQ:GTLB) PT at $38.54

Shares of GitLab Inc. (NASDAQ:GTLB) have been assigned an average rating of “Hold” from the thirty brokerages that are presently covering the firm, Marketbeat reports. Four analysts have rated the stock with a sell recommendation, seventeen have assigned a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $37.3462.

A number of brokerages have issued reports on GTLB. Zacks Research cut GitLab from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Needham & Company LLC reissued a “buy” rating and set a $32.00 target price on shares of GitLab in a research note on Monday, April 13th. Mizuho lowered their target price on GitLab from $37.00 to $30.00 and set a “neutral” rating for the company in a research note on Wednesday, March 4th. Barclays lowered their target price on GitLab from $29.00 to $25.00 and set an “underweight” rating for the company in a research note on Wednesday, March 4th. Finally, Rosenblatt Securities lowered their target price on GitLab from $55.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th.

Insider Buying and Selling at GitLab

In other GitLab news, Director Matthew Jacobson sold 459,799 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $22.37, for a total transaction of $10,285,703.63. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Sytse Sijbrandij sold 116,200 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $20.77, for a total transaction of $2,413,474.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 1,330,408 shares of company stock valued at $30,309,342. Corporate insiders own 16.37% of the company’s stock.

Institutional Trading of GitLab

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in GitLab by 9.2% during the 3rd 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 last quarter. Eminence Capital LP increased its position in GitLab by 6.9% during the 4th quarter. Eminence Capital LP now owns 7,702,226 shares of the company’s stock worth $289,065,000 after purchasing an additional 494,497 shares during the period. Atreides Management LP grew its holdings in 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 acquiring an additional 1,532,107 shares during the period. AQR Capital Management LLC grew its holdings in 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 acquiring an additional 4,806,163 shares during the period. Finally, Champlain Investment Partners LLC grew its holdings in 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 acquiring an additional 191,084 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

GitLab Price Performance

Shares of NASDAQ:GTLB opened at $20.66 on Tuesday. The firm has a market capitalization of $3.51 billion, a PE ratio of -59.03 and a beta of 0.85. The firm’s 50-day moving average is $23.43 and its two-hundred day moving average is $34.44. GitLab has a 1 year low of $18.73 and a 1 year high of $54.08.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. The company had revenue of $260.40 million for the quarter, compared to analyst estimates of $252.31 million. GitLab had a negative net margin of 5.86% and a negative return on equity of 1.73%. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 earnings per share. Analysts expect that GitLab will post -0.28 EPS for the current fiscal year.

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.