GitLab (NASDAQ:GTLB – Get Free Report) updated its first quarter 2027 earnings guidance on Monday. The company provided EPS guidance of 0.200-0.210 for the period, compared to the consensus EPS estimate of 0.150. The company issued revenue guidance of $253.0 million-$255.0 million, compared to the consensus revenue estimate of $254.4 million. GitLab also updated its FY 2027 guidance to 0.760-0.800 EPS.
Analyst Ratings Changes
Several research firms recently issued reports on GTLB. Canaccord Genuity Group dropped their target price on GitLab from $70.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. UBS Group lowered GitLab from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $44.00 to $24.00 in a report on Thursday, April 16th. Zacks Research lowered GitLab from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Truist Financial dropped their price objective on GitLab from $35.00 to $25.00 and set a “hold” rating on the stock in a research note on Wednesday, March 4th. Finally, BTIG Research dropped their price objective on GitLab from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seventeen have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $37.35.
Read Our Latest Report on GitLab
GitLab Trading Down 1.3%
GitLab (NASDAQ:GTLB – Get Free Report) last released its quarterly earnings data on Tuesday, March 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $260.40 million for the quarter, compared to analyst estimates of $252.31 million. During the same quarter in the prior year, the company earned $0.33 earnings per share. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that GitLab will post -0.28 EPS for the current year.
Insider Activity at GitLab
In other news, Director Matthew Jacobson sold 700,109 shares of the company’s stock in a transaction that occurred on 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 owned 325 shares of the company’s stock, valued at approximately $7,458.75. This represents a 99.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sytse Sijbrandij sold 116,200 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $20.77, for a total value of $2,413,474.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,330,408 shares of company stock worth $30,309,342 in the last ninety days. 10.64% of the stock is owned by company insiders.
Hedge Funds Weigh In On GitLab
Institutional investors and hedge funds have recently made changes to their positions in the company. Guggenheim Capital LLC grew its position in shares of GitLab by 14.6% in the fourth quarter. Guggenheim Capital LLC now owns 5,959 shares of the company’s stock valued at $224,000 after purchasing an additional 761 shares during the last quarter. Elevation Point Wealth Partners LLC acquired a new stake in GitLab during the fourth quarter worth approximately $217,000. CIBC Asset Management Inc acquired a new stake in GitLab during the fourth quarter worth approximately $212,000. Prelude Capital Management LLC acquired a new stake in GitLab during the third quarter worth approximately $202,000. Finally, Wilmington Savings Fund Society FSB grew its position in GitLab by 4,900.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 3,500 shares of the company’s stock worth $131,000 after buying an additional 3,430 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.
GitLab Company Profile
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.
Read More
- Five stocks we like better than GitLab
- Before the Moon Base Gets Built, These 4 Companies Win
- Industrial Buybacks: Top Homebuilding Supplier Leads Buyback Increases
- 3 Stocks That Win If Inflation Surprises to the Downside
- MercadoLibre Boldly Invests in Growth: Discount Deepens
Receive News & Ratings for GitLab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GitLab and related companies with MarketBeat.com's FREE daily email newsletter.
