BTIG Research Has Lowered Expectations for GitLab (NASDAQ:GTLB) Stock Price

Key Points

• BTIG Research has lowered its target price for GitLab (NASDAQ:GTLB) from $67.00 to $57.00, while maintaining a "buy" rating, indicating a potential upside of 21.51% from the previous close.
• Several other analysts recently adjusted their price targets for GitLab, with Barclays setting a target of $47.00 and Canaccord Genuity adjusting theirs to $70.00, reflecting mixed outlooks among investors.
• Despite the adjustments in target prices, GitLab has reported positive quarterly earnings, surpassing expectations with $0.17 earnings per share and a revenue increase of 26.8% year over year.

GitLab (NASDAQ:GTLB - Get Free Report) had its price objective cut by stock analysts at BTIG Research from $67.00 to $57.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "buy" rating on the stock. BTIG Research's target price indicates a potential upside of 24.64% from the company's previous close.

A number of other equities analysts also recently issued reports on GTLB. Raymond James Financial cut their price target on shares of GitLab from $80.00 to $60.00 and set an "outperform" rating for the company in a report on Wednesday, June 11th. Needham & Company LLC restated a "buy" rating and set a $55.00 target price on shares of GitLab in a report on Thursday. UBS Group dropped their target price on shares of GitLab from $85.00 to $73.00 and set a "buy" rating for the company in a report on Wednesday, June 11th. The Goldman Sachs Group restated a "neutral" rating and set a $50.00 target price on shares of GitLab in a report on Tuesday, June 24th. Finally, Truist Financial restated a "buy" rating and set a $75.00 target price (down from $80.00) on shares of GitLab in a report on Wednesday, June 11th. Nineteen research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $58.39.

GitLab Trading Up 5.2%

Shares of GTLB traded up $2.27 during trading hours on Thursday, reaching $45.73. The company had a trading volume of 7,975,383 shares, compared to its average volume of 5,623,291. The firm has a 50 day simple moving average of $44.79 and a 200-day simple moving average of $47.19. The company has a market capitalization of $7.55 billion, a price-to-earnings ratio of -1,143.25 and a beta of 0.75. GitLab has a 12-month low of $37.90 and a 12-month high of $74.18.

GitLab (NASDAQ:GTLB - Get Free Report) last announced its quarterly earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.02. The business had revenue of $214.51 million during the quarter, compared to the consensus estimate of $213.21 million. GitLab had a negative net margin of 0.55% and a negative return on equity of 2.80%. The business's revenue was up 26.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 EPS. GitLab has set its FY 2026 guidance at 0.740-0.750 EPS. Q2 2026 guidance at 0.160-0.17 EPS. Sell-side analysts forecast that GitLab will post -0.31 earnings per share for the current year.

Insider Transactions at GitLab

In other news, Director Sytse Sijbrandij sold 108,600 shares of GitLab stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $45.16, for a total transaction of $4,904,376.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karen Blasing sold 3,250 shares of GitLab stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $45.00, for a total transaction of $146,250.00. Following the sale, the director owned 103,889 shares of the company's stock, valued at approximately $4,675,005. This trade represents a 3.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 464,950 shares of company stock worth $20,025,356 over the last ninety days. 16.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GitLab

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of GitLab by 9,968.3% during the first quarter. GAMMA Investing LLC now owns 43,193 shares of the company's stock worth $2,030,000 after buying an additional 42,764 shares in the last quarter. Park Avenue Securities LLC grew its holdings in GitLab by 5.3% in the first quarter. Park Avenue Securities LLC now owns 7,601 shares of the company's stock valued at $357,000 after purchasing an additional 381 shares during the period. Wealthcare Advisory Partners LLC grew its holdings in GitLab by 19.3% in the first quarter. Wealthcare Advisory Partners LLC now owns 6,578 shares of the company's stock valued at $309,000 after purchasing an additional 1,065 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new stake in GitLab in the first quarter valued at approximately $200,000. Finally, Cetera Investment Advisers grew its holdings in GitLab by 43.4% in the first quarter. Cetera Investment Advisers now owns 55,636 shares of the company's stock valued at $2,615,000 after purchasing an additional 16,849 shares during the period. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

About GitLab

GitLab Inc, through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. It offers GitLab, a DevOps platform, which is a single application that leads to faster cycle time and allows visibility throughout and control over various stages of the DevOps lifecycle.