GitLab Inc. (NASDAQ:GTLB) Given Consensus Recommendation of "Hold" by Analysts

Shares of GitLab Inc. (NASDAQ:GTLB - Get Free Report) have earned an average rating of "Hold" from the thirty research firms that are covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell recommendation, eighteen have given a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $37.0769.

GTLB has been the subject of a number of recent research reports. Weiss Ratings reiterated a "sell (e+)" rating on shares of GitLab in a research note on Tuesday. Morgan Stanley decreased their price target on shares of GitLab from $38.00 to $29.00 and set a "cautious" rating for the company in a research note on Monday, March 9th. Bank of America cut shares of GitLab from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $58.00 to $27.00 in a research note on Wednesday, April 22nd. Canaccord Genuity Group decreased their price target on shares of GitLab from $70.00 to $40.00 and set a "buy" rating for the company in a research note on Wednesday, March 4th. Finally, Barclays reduced their target price on shares of GitLab from $29.00 to $25.00 and set an "underweight" rating for the company in a research note on Wednesday, March 4th.

GitLab Price Performance

NASDAQ GTLB opened at $23.66 on Friday. The firm's fifty day moving average price is $22.41 and its 200 day moving average price is $32.08. The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of -67.60 and a beta of 0.82. GitLab has a 12 month low of $18.73 and a 12 month high of $52.59.

GitLab (NASDAQ:GTLB - Get Free Report) last posted its earnings results on Tuesday, March 3rd. The company reported $0.30 EPS for the quarter, beating analysts' consensus estimates of $0.23 by $0.07. The firm had revenue of $260.40 million for the quarter, compared to the consensus estimate of $252.31 million. GitLab had a negative net margin of 5.86% and a negative return on equity of 1.73%. The company's revenue was up 23.2% on a year-over-year basis. During the same period last year, the firm posted $0.33 EPS. As a group, sell-side analysts forecast that GitLab will post -0.28 earnings per share for the current year.

Insider Transactions at GitLab

In related news, Director Matthew Jacobson sold 700,109 shares of the firm's stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $22.95, for a total value of $16,067,501.55. Following the sale, the director directly owned 325 shares of the company's stock, valued at approximately $7,458.75. This trade represents a 99.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sytse Sijbrandij sold 116,200 shares of the firm's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $20.77, for a total transaction of $2,413,474.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,330,408 shares of company stock valued at $30,309,342 in the last quarter. Insiders own 10.64% of the company's stock.

Hedge Funds Weigh In On GitLab

Several hedge funds and other institutional investors have recently bought and sold shares of GTLB. Goldman Sachs Group Inc. lifted 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 purchasing an additional 12,200 shares in the last quarter. Woodline Partners LP acquired a new position in shares of GitLab during the first quarter worth $314,000. Russell Investments Group Ltd. lifted its position in shares of GitLab by 31.6% during the second quarter. Russell Investments Group Ltd. now owns 7,112 shares of the company's stock worth $321,000 after purchasing an additional 1,709 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of GitLab by 17.0% during the second quarter. California Public Employees Retirement System now owns 167,870 shares of the company's stock worth $7,573,000 after purchasing an additional 24,448 shares in the last quarter. Finally, State Street Corp lifted its position in shares of GitLab by 7.0% during the second quarter. State Street Corp now owns 2,283,597 shares of the company's stock worth $103,013,000 after purchasing an additional 148,713 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

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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