Shares of GitLab Inc. (NASDAQ:GTLB – Get Free Report) have been given an average recommendation of “Hold” by the twenty-eight research firms that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and seven have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $51.75.
Several research firms recently weighed in on GTLB. BTIG Research upped their price objective on shares of GitLab from $52.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. Mizuho boosted their price target on GitLab from $34.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, September 2nd. Needham & Company LLC increased their price target on GitLab from $38.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Wolfe Research reissued an “outperform” rating and issued a $36.00 price objective on shares of GitLab in a research report on Wednesday, June 3rd. Finally, JPMorgan Chase & Co. raised their price target on shares of GitLab from $32.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, August 26th.
Read Our Latest Stock Analysis on GitLab
GitLab Stock Down 1.9%
GitLab (NASDAQ:GTLB – Get Free Report) last posted its earnings results on Tuesday, September 1st. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. GitLab had a negative return on equity of 1.28% and a negative net margin of 4.99%.The company had revenue of $286.25 million during the quarter, compared to the consensus estimate of $273.13 million. During the same quarter last year, the firm earned $0.24 earnings per share. The company’s revenue was up 21.3% on a year-over-year basis. 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 expect that GitLab will post -0.28 earnings per share for the current year.
Insiders Place Their Bets
In related news, CAO Simon Mundy sold 8,725 shares of the firm’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $38.00, for a total value of $331,550.00. Following the transaction, the chief accounting officer owned 105,332 shares of the company’s stock, valued at approximately $4,002,616. This trade represents a 7.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.64% of the company’s stock.
Institutional Trading of GitLab
Institutional investors have recently made changes to their positions in the company. Main Management ETF Advisors LLC grew its position in shares of GitLab by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 33,669 shares of the company’s stock valued at $1,264,000 after purchasing an additional 344 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of GitLab by 7.6% during the 2nd quarter. HighTower Advisors LLC now owns 10,291 shares of the company’s stock worth $314,000 after acquiring an additional 727 shares during the last quarter. Siren L.L.C. increased its stake in GitLab by 1.0% in the 1st quarter. Siren L.L.C. now owns 100,000 shares of the company’s stock worth $2,164,000 after buying an additional 1,000 shares during the period. Tsfg LLC purchased a new stake in shares of GitLab in the second quarter valued at approximately $31,000. Finally, IFP Advisors Inc raised its holdings in shares of GitLab by 16.2% in the fourth quarter. IFP Advisors Inc now owns 7,327 shares of the company’s stock valued at $275,000 after acquiring an additional 1,024 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.
GitLab Company Profile
GitLab Inc (NASDAQ:GTLB) develops a software development and collaboration platform designed to help organizations plan, create, secure and deploy applications. Its platform brings together source code management, project planning, code review, continuous integration and continuous delivery (CI/CD), application security, compliance and monitoring capabilities in a unified DevSecOps environment.
GitLab serves businesses, government organizations and educational institutions across a range of industries and geographies.
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