GitLab Inc. (NASDAQ:GTLB) Receives Average Recommendation of "Hold" from Analysts

Key Points

• GitLab has an average analyst rating of Hold from 29 analysts, with a consensus 1-year price target of $36.64.
• The company recently beat quarterly expectations, reporting $0.23 EPS on revenue of $264.16 million, both above estimates, while revenue rose 23.2% year over year.
• Despite the strong quarter, insiders have been selling shares, including notable sales by directors Matthew Jacobson and Sytse Sijbrandij, while institutional investors own 95.04% of the stock.

Shares of GitLab Inc. (NASDAQ:GTLB - Get Free Report) have been assigned an average rating of "Hold" from the twenty-nine analysts that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, nineteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $36.64.

A number of analysts recently issued reports on GTLB shares. DA Davidson increased their target price on GitLab from $24.00 to $35.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 3rd. Needham & Company LLC raised their price target on shares of GitLab from $32.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, June 3rd. Truist Financial decreased their price target on shares of GitLab from $35.00 to $25.00 and set a "hold" rating for the company in a research note on Wednesday, March 4th. Barclays decreased their price target 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. Finally, Royal Bank Of Canada raised their price target on shares of GitLab from $25.00 to $29.00 and gave the stock a "sector perform" rating in a research note on Wednesday, June 3rd.

GitLab Stock Performance

NASDAQ GTLB opened at $30.30 on Wednesday. The business has a 50 day simple moving average of $24.48 and a 200 day simple moving average of $29.88. GitLab has a 52-week low of $18.73 and a 52-week high of $52.38. The stock has a market cap of $5.15 billion, a price-to-earnings ratio of -189.38 and a beta of 0.96.

GitLab (NASDAQ:GTLB - Get Free Report) last posted its earnings results on Tuesday, June 2nd. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.03. GitLab had a positive return on equity of 0.31% and a negative net margin of 2.49%.The business had revenue of $264.16 million during the quarter, compared to analysts' expectations of $254.23 million. During the same period in the prior year, the business earned $0.17 EPS. GitLab's revenue for the quarter was up 23.2% compared to the same quarter last year. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. On average, analysts predict that GitLab will post -0.31 EPS for the current year.

Insider Activity at GitLab

In other 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 transaction of $16,067,501.55. Following the completion of the transaction, the director directly owned 325 shares of the company's stock, valued at $7,458.75. This trade represents a 99.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sytse Sijbrandij sold 116,200 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $24.85, for a total transaction of $2,887,570.00. Following the transaction, the director directly owned 15,018,251 shares of the company's stock, valued at $373,203,537.35. This represents a 0.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,392,308 shares of company stock valued at $31,654,249 over the last ninety days. Company insiders own 10.64% of the company's stock.

Hedge Funds Weigh In On GitLab

Several hedge funds have recently made changes to their positions in GTLB. Vanguard Group Inc. boosted its holdings in shares of GitLab by 9.2% in the 3rd quarter. Vanguard Group Inc. now owns 15,281,775 shares of the company's stock valued at $688,902,000 after buying an additional 1,285,881 shares during the last quarter. Eminence Capital LP boosted its holdings in shares of GitLab by 6.9% in the 4th quarter. Eminence Capital LP now owns 7,702,226 shares of the company's stock valued at $289,065,000 after buying an additional 494,497 shares during the last quarter. Atreides Management LP boosted its holdings in shares of GitLab by 38.9% in the 3rd quarter. Atreides Management LP now owns 5,470,305 shares of the company's stock valued at $246,601,000 after buying an additional 1,532,107 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of GitLab by 766.3% in the 4th quarter. AQR Capital Management LLC now owns 5,433,375 shares of the company's stock valued at $203,915,000 after buying an additional 4,806,163 shares during the last quarter. Finally, Champlain Investment Partners LLC boosted its holdings in shares of GitLab by 4.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 4,703,281 shares of the company's stock valued at $212,024,000 after buying an additional 191,084 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

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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