GitLab (NASDAQ:GTLB) Trading Up 9.8% – Here’s Why

Posted by Brenda Bartman on May 29th, 2026

GitLab Inc. (NASDAQ:GTLB – Get Free Report) shot up 9.8% on Friday . The stock traded as high as $30.74 and last traded at $30.6640. 3,362,145 shares traded hands during trading, a decline of 44% from the average session volume of 6,016,968 shares. The stock had previously closed at $27.93.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GTLB. William Blair restated an “underperform” rating on shares of GitLab in a research report on Monday, March 23rd. Cantor Fitzgerald lowered their price objective on GitLab from $30.00 to $27.00 and set a “neutral” rating for the company in a research note on Wednesday, May 13th. BTIG Research lowered their price objective on GitLab from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Bank of America cut GitLab from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $58.00 to $27.00 in a research note on Wednesday, April 22nd. Finally, Piper Sandler cut GitLab from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $55.00 to $28.00 in a research note on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eighteen have given a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $37.08.

View Our Latest Research Report on GitLab

GitLab Price Performance

The business has a 50-day simple moving average of $22.92 and a 200-day simple moving average of $30.63. The firm has a market capitalization of $5.19 billion, a PE ratio of -87.37 and a beta of 0.82.

GitLab (NASDAQ:GTLB – Get Free Report) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $260.40 million for the quarter, compared to the consensus estimate of $252.31 million. During the same period in the prior year, the business posted $0.33 earnings per share. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, research analysts expect that GitLab Inc. will post -0.33 earnings per share for the current year.

Insider Activity

In other news, Director Matthew Jacobson sold 459,799 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $22.37, for a total transaction of $10,285,703.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sytse Sijbrandij sold 116,200 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $24.85, for a total value of $2,887,570.00. Following the completion of the sale, the director directly owned 15,018,251 shares in the company, valued at approximately $373,203,537.35. The trade was a 0.77% decrease in their position. 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 quarter, insiders sold 1,392,308 shares of company stock worth $31,654,249. 10.64% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GitLab

A number of institutional investors and hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its holdings in shares of GitLab by 1.6% in the first quarter. Goldman Sachs Group Inc. now owns 776,521 shares of the company’s stock valued at $36,496,000 after buying an additional 12,200 shares during the last quarter. Woodline Partners LP purchased a new position in GitLab during the first quarter worth about $314,000. Russell Investments Group Ltd. raised its holdings in GitLab by 31.6% during the second quarter. Russell Investments Group Ltd. now owns 7,112 shares of the company’s stock worth $321,000 after purchasing an additional 1,709 shares in the last quarter. California Public Employees Retirement System raised its holdings in GitLab by 17.0% during the second quarter. California Public Employees Retirement System now owns 167,870 shares of the company’s stock worth $7,573,000 after purchasing an additional 24,448 shares in the last quarter. Finally, State Street Corp raised its holdings in GitLab by 7.0% during the second quarter. State Street Corp now owns 2,283,597 shares of the company’s stock worth $103,013,000 after purchasing an additional 148,713 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

About GitLab

(Get Free Report)

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.