DA Davidson Cuts GitLab (NASDAQ:GTLB) Price Target to $45.00

Key Points

• DA Davidson has reduced GitLab's price target from $50.00 to $45.00, maintaining a "neutral" rating, indicating a potential upside of 5.01% from its previous close.
• Currently, GitLab has a consensus rating of "Moderate Buy" with an average target price of $58.87, while the stock has experienced an 8.6% decline recently.
• Insider transactions have been notable, with directors selling substantial amounts of stock, indicating a shift in ownership stakes, as insiders own 21.36% of GitLab's stock.

GitLab (NASDAQ:GTLB - Get Free Report) had its price target dropped by investment analysts at DA Davidson from $50.00 to $45.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. DA Davidson's price objective points to a potential upside of 5.01% from the company's previous close.

Several other research firms have also commented on GTLB. Royal Bank Of Canada reiterated an "outperform" rating and set a $62.00 price objective on shares of GitLab in a research note on Wednesday, June 25th. Raymond James Financial reduced their price objective on shares of GitLab from $60.00 to $55.00 and set an "outperform" rating for the company in a research note on Thursday. Zacks Research upgraded shares of GitLab to a "strong sell" rating in a research note on Monday, August 11th. The Goldman Sachs Group reiterated a "neutral" rating and set a $50.00 price objective on shares of GitLab in a research note on Tuesday, June 24th. Finally, Wells Fargo & Company reduced their price objective on shares of GitLab from $60.00 to $55.00 and set an "overweight" rating for the company in a research note on Thursday. Nineteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $58.87.

GitLab Stock Down 8.6%

NASDAQ:GTLB traded down $4.06 during mid-day trading on Thursday, reaching $42.85. The company's stock had a trading volume of 6,502,721 shares, compared to its average volume of 3,645,449. GitLab has a 1 year low of $37.90 and a 1 year high of $74.18. The stock has a fifty day moving average of $44.79 and a 200-day moving average of $47.70. The firm has a market capitalization of $7.08 billion, a PE ratio of 429.40 and a beta of 0.75.

GitLab (NASDAQ:GTLB - Get Free Report) last released its quarterly earnings data on Tuesday, June 10th. The company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.02. GitLab had a net margin of 2.17% and a negative return on equity of 4.07%. The company had revenue of $214.51 million during the quarter, compared to analyst estimates of $213.21 million. During the same period in the prior year, the firm earned $0.03 earnings per share. The firm's revenue for the quarter was up 26.8% compared to the same quarter last year. GitLab has set its FY 2026 guidance at 0.740-0.750 EPS. Q2 2026 guidance at 0.160-0.17 EPS. On average, analysts expect that GitLab will post -0.31 earnings per share for the current year.

Insiders Place Their Bets

In other GitLab news, Director Sytse Sijbrandij sold 108,600 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $41.44, for a total transaction of $4,500,384.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew Jacobson sold 129,400 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $42.32, for a total transaction of $5,476,208.00. Following the transaction, the director directly owned 551,997 shares of the company's stock, valued at $23,360,513.04. This represents a 18.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 464,950 shares of company stock valued at $20,025,356. 21.36% of the stock is owned by insiders.

Institutional Investors Weigh In On GitLab

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of GitLab by 2.3% during the 1st quarter. Vanguard Group Inc. now owns 13,445,456 shares of the company's stock worth $631,936,000 after purchasing an additional 302,864 shares during the period. Eminence Capital LP grew its stake in shares of GitLab by 148.9% during the 2nd quarter. Eminence Capital LP now owns 6,218,607 shares of the company's stock worth $280,521,000 after purchasing an additional 3,720,406 shares during the period. Champlain Investment Partners LLC grew its stake in shares of GitLab by 251.3% during the 2nd quarter. Champlain Investment Partners LLC now owns 4,512,197 shares of the company's stock worth $203,545,000 after purchasing an additional 3,227,717 shares during the period. Atreides Management LP grew its stake in shares of GitLab by 867.3% during the 2nd quarter. Atreides Management LP now owns 3,938,198 shares of the company's stock worth $177,652,000 after purchasing an additional 3,531,070 shares during the period. Finally, ARK Investment Management LLC grew its stake in shares of GitLab by 35.7% during the 2nd quarter. ARK Investment Management LLC now owns 3,292,685 shares of the company's stock worth $148,533,000 after purchasing an additional 866,353 shares during the period. Institutional investors and hedge funds own 95.04% of the company's stock.

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.

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