GitLab Inc. (NASDAQ:GTLB) Stock Now Rated "Hold" by Wall Street Analysts

Key Points

• Analysts rate GitLab “Hold” overall: Among 28 firms, 17 recommend holding, seven recommend buying and four recommend selling. The average 12-month price target is $51.75, below the stock’s recent $56.01 price.
• GitLab beat quarterly expectations, reporting $0.24 adjusted EPS versus a $0.18 consensus estimate and revenue of $286.25 million, up 21.3% year over year.
• Insiders sold 2.18 million shares worth approximately $103.8 million over the past 90 days, although the transactions were conducted under pre-arranged Rule 10b5-1 trading plans.

Shares of GitLab Inc. (NASDAQ:GTLB - Get Free Report) have been assigned an average recommendation of "Hold" from the twenty-eight ratings firms that are covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $51.75.

A number of brokerages recently weighed in on GTLB. BTIG Research raised their price objective on GitLab from $52.00 to $60.00 and gave the company a "buy" rating in a report on Wednesday, September 2nd. Robert W. Baird upped their target price on GitLab from $47.00 to $59.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 2nd. Truist Financial reaffirmed a "hold" rating and issued a $48.00 target price (up from $40.00) on shares of GitLab in a research note on Wednesday, September 2nd. Barclays increased their price target on shares of GitLab from $25.00 to $47.00 and gave the company an "underweight" rating in a research report on Wednesday, September 2nd. Finally, Mizuho lifted their price target on shares of GitLab from $34.00 to $47.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 2nd.

GitLab Stock Up 1.7%

GTLB opened at $56.01 on Tuesday. The stock has a market cap of $9.33 billion, a PE ratio of -175.03 and a beta of 0.98. GitLab has a 52 week low of $18.73 and a 52 week high of $56.64. The business's fifty day simple moving average is $46.15 and its 200 day simple moving average is $33.79.

GitLab (NASDAQ:GTLB - Get Free Report) last released its quarterly earnings results on Tuesday, September 1st. The company reported $0.24 earnings per share for the quarter, beating 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 business had revenue of $286.25 million for the quarter, compared to the consensus estimate of $273.13 million. During the same quarter last year, the business posted $0.24 earnings per share. The company's revenue for the quarter 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. As a group, equities analysts anticipate that GitLab will post -0.29 earnings per share for the current year.

Insider Transactions at GitLab

In related news, CTO Sivaprasad Padisetty sold 51,915 shares of the stock in a transaction on Monday, September 28th. The shares were sold at an average price of $45.78, for a total transaction of $2,376,668.70. Following the transaction, the chief technology officer owned 377,211 shares of the company's stock, valued at approximately $17,268,719.58. This trade represents a 12.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sytse Sijbrandij sold 430,000 shares of GitLab stock in a transaction on Monday, September 28th. The stock was sold at an average price of $45.84, for a total transaction of $19,711,200.00. Following the completion of the transaction, the director owned 12,785,851 shares in the company, valued at approximately $586,103,409.84. The trade was a 3.25% 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. In the last ninety days, insiders sold 2,176,840 shares of company stock worth $103,798,494. 10.64% of the stock is currently owned by insiders.

Institutional Trading of GitLab

Several institutional investors have recently added to or reduced their stakes in GTLB. GAMMA Investing LLC boosted its position in GitLab by 27.3% during the 3rd quarter. GAMMA Investing LLC now owns 3,524 shares of the company's stock valued at $167,000 after buying an additional 755 shares during the period. Green Alpha Advisors LLC increased its position in shares of GitLab by 51.1% in the third quarter. Green Alpha Advisors LLC now owns 10,485 shares of the company's stock valued at $495,000 after acquiring an additional 3,548 shares during the period. State Street Corp increased its position in shares of GitLab by 3.2% in the second quarter. State Street Corp now owns 2,632,173 shares of the company's stock valued at $80,351,000 after acquiring an additional 81,807 shares during the period. SkyView Investment Advisors LLC purchased a new position in shares of GitLab in the second quarter valued at about $305,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of GitLab by 20.9% during the second quarter. The Manufacturers Life Insurance Company now owns 46,187 shares of the company's stock valued at $1,410,000 after acquiring an additional 7,981 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

About GitLab

GitLab Inc NASDAQ: GTLB develops a cloud-based DevSecOps platform that helps organizations plan, create, secure and deploy software. Its platform brings together source code management, version control, issue tracking, project planning, continuous integration and continuous delivery, enabling development, operations and security teams to collaborate in a unified environment.

GitLab's products also include application security testing, vulnerability management, compliance tools, infrastructure as code, software supply chain security and monitoring capabilities.

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