GitLab (NASDAQ:GTLB – Free Report) had its price objective hoisted by UBS Group from $40.00 to $50.00 in a report issued on Wednesday morning, Marketbeat reports. They currently have a neutral rating on the stock.
A number of other brokerages also recently issued reports on GTLB. Wells Fargo & Company raised their price target on shares of GitLab from $26.00 to $40.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 25th. Rosenblatt Securities upped their price objective on GitLab from $43.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday. Wolfe Research reiterated an “outperform” rating and issued a $36.00 price objective on shares of GitLab in a research report on Wednesday, June 3rd. TD Cowen increased their price objective on GitLab from $29.00 to $42.00 and gave the stock a “hold” rating in a research report on Thursday, August 27th. Finally, DA Davidson raised their target price on GitLab from $35.00 to $45.00 and gave the stock a “neutral” rating in a research note on Monday, August 31st. Seven equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, GitLab currently has an average rating of “Hold” and a consensus target price of $51.75.
Get Our Latest Stock Analysis on GitLab
GitLab Trading Up 1.1%
GitLab (NASDAQ:GTLB – Get Free Report) last issued its earnings results on Tuesday, September 1st. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. GitLab had a negative net margin of 4.99% and a negative return on equity of 1.28%. The company had revenue of $286.25 million for the quarter, compared to the consensus estimate of $273.13 million. During the same period in the previous year, the firm earned $0.24 earnings per share. GitLab’s quarterly revenue was up 21.3% compared to the same quarter last year. GitLab has set its FY 2027 guidance at 0.850-0.870 EPS and its Q3 2027 guidance at 0.190-0.200 EPS. Equities research analysts predict that GitLab will post -0.18 earnings per share for the current fiscal year.
Insider Transactions at GitLab
In other news, CAO Simon Mundy sold 8,725 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $38.00, for a total value of $331,550.00. Following the sale, the chief accounting officer directly owned 105,332 shares of the company’s stock, valued at approximately $4,002,616. The trade was a 7.65% decrease in their position. The transaction was disclosed in a legal 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 Sytse Sijbrandij sold 116,200 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $28.44, for a total transaction of $3,304,728.00. Following the completion of the sale, the director directly owned 14,902,051 shares in the company, valued at $423,814,330.44. This trade represents a 0.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.64% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its position in shares of GitLab by 1.6% during the first quarter. Goldman Sachs Group Inc. now owns 776,521 shares of the company’s stock worth $36,496,000 after buying an additional 12,200 shares during the period. Woodline Partners LP purchased a new stake in shares of GitLab in the 1st quarter valued at $314,000. Russell Investments Group Ltd. lifted its stake in GitLab by 31.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,112 shares of the company’s stock worth $321,000 after acquiring an additional 1,709 shares in the last quarter. California Public Employees Retirement System lifted its stake in GitLab by 17.0% during the 2nd quarter. California Public Employees Retirement System now owns 167,870 shares of the company’s stock worth $7,573,000 after acquiring an additional 24,448 shares in the last quarter. Finally, State Street Corp boosted its holdings in GitLab by 7.0% during the 2nd quarter. State Street Corp now owns 2,283,597 shares of the company’s stock valued at $103,013,000 after acquiring an additional 148,713 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.
Key Stories Impacting GitLab
Here are the key news stories impacting GitLab this week:
- Positive Sentiment: Several firms raised their outlooks or reiterated bullish views. Piper Sandler lifted its price target to $52, while Morgan Stanley, UBS, Mizuho, Wells Fargo, Robert W. Baird, Needham and Rosenblatt indicated expectations for further appreciation. Needham separately maintained its Buy rating. Piper Sandler Raises GitLab Price Target
- Positive Sentiment: RBC Capital increased its GitLab price target to $60, implying additional upside, even though it retained a Hold rating. The higher target reflects improved expectations after the earnings beat. RBC Raises GitLab Price Target
- Positive Sentiment: GitLab reached a new 52-week high after the strong results, signaling continued investor momentum and renewed confidence in its growth outlook. GitLab Hits 52-Week High
- Neutral Sentiment: Analyst sentiment is not unanimous. RBC, Guggenheim and TD Cowen maintained Hold or Neutral ratings, suggesting that the recent rally and valuation may already reflect much of the expected earnings improvement. Guggenheim Reiterates Neutral Rating
- Neutral Sentiment: Unusually high options activity indicates elevated trading interest and potential volatility, but does not establish a clear directional signal. GitLab Options Trading
- Negative Sentiment: The initial earnings reaction included a sharp after-hours sell-off despite the earnings beat, indicating that some investors may have been disappointed by guidance, valuation or the extent of upside already priced into GTLB. GitLab After-Hours Sell-Off
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.
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