GitLab (NASDAQ:GTLB) Earns Overweight Rating from Cantor Fitzgerald

Key Points

• Cantor Fitzgerald reissued an "overweight" rating on GitLab, with a target price of $60.00, indicating a potential upside of 27.90% from its current price.
• A total of 19 analysts have rated GitLab stock as a Buy, with a consensus rating of "Moderate Buy" and an average price target of $59.09.
• GitLab reported a quarterly revenue growth of 26.8%, with earnings per share of $0.17, surpassing expectations of $0.15.

GitLab (NASDAQ:GTLB - Get Free Report)'s stock had its "overweight" rating reissued by equities researchers at Cantor Fitzgerald in a research note issued to investors on Thursday,Benzinga reports. They presently have a $60.00 price target on the stock. Cantor Fitzgerald's price objective indicates a potential upside of 27.90% from the company's current price.

Other equities research analysts also recently issued reports about the company. UBS Group decreased their target price on GitLab from $73.00 to $60.00 and set a "buy" rating on the stock in a research report on Thursday. DA Davidson upgraded GitLab to a "hold" rating in a research report on Monday, August 25th. Truist Financial decreased their target price on GitLab from $75.00 to $55.00 and set a "buy" rating on the stock in a research report on Thursday. BTIG Research decreased their target price on GitLab from $67.00 to $57.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, Wells Fargo & Company decreased their target price on GitLab from $60.00 to $55.00 and set an "overweight" rating on the stock in a research report on Thursday. Nineteen equities 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 company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $59.09.

GitLab Price Performance

GTLB stock opened at $46.91 on Thursday. The company has a market cap of $7.75 billion, a P/E ratio of 469.10 and a beta of 0.75. GitLab has a 1 year low of $37.90 and a 1 year high of $74.18. The stock's fifty day moving average price is $44.79 and its 200-day moving average price is $47.70.

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

Insider Transactions at GitLab

In related news, Director Karen Blasing sold 3,250 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $45.00, for a total value of $146,250.00. Following the transaction, the director owned 103,889 shares of the company's stock, valued at $4,675,005. This represents a 3.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew Jacobson sold 129,400 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $42.32, for a total value of $5,476,208.00. Following the completion of the transaction, the director directly owned 551,997 shares in the company, valued at approximately $23,360,513.04. This trade represents a 18.99% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 464,950 shares of company stock worth $20,025,356. 21.36% of the stock is currently owned by company insiders.

Institutional Trading of GitLab

Several hedge funds and other institutional investors have recently made changes to their positions in GTLB. Cullen Frost Bankers Inc. lifted its holdings in shares of GitLab by 174.9% during the 1st quarter. Cullen Frost Bankers Inc. now owns 525 shares of the company's stock valued at $25,000 after purchasing an additional 334 shares during the last quarter. Cloud Capital Management LLC purchased a new stake in shares of GitLab during the 1st quarter valued at $29,000. Twin Tree Management LP purchased a new stake in shares of GitLab during the 1st quarter valued at $29,000. CoreCap Advisors LLC lifted its holdings in shares of GitLab by 327.5% during the 4th quarter. CoreCap Advisors LLC now owns 590 shares of the company's stock valued at $33,000 after purchasing an additional 452 shares during the last quarter. Finally, Harbour Investments Inc. lifted its holdings in shares of GitLab by 447.6% during the 1st quarter. Harbour Investments Inc. now owns 898 shares of the company's stock valued at $42,000 after purchasing an additional 734 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

GitLab Company Profile

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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