GitLab (NASDAQ:GTLB) Given New $36.00 Price Target at BTIG Research

Key Points

• BTIG Research raised its price target on GitLab to $36 from $30 and kept a buy rating, implying about 13% upside from the prior close.
• GitLab reported better-than-expected fiscal Q1 results, with adjusted EPS of $0.23 versus $0.20 expected and revenue of $264.2 million, up 23.2% year over year.
• The company also issued Q2 guidance above Wall Street estimates, while insider selling and a more mixed overall analyst picture kept sentiment from being uniformly bullish.

GitLab (NASDAQ:GTLB - Get Free Report) had its price objective lifted by investment analysts at BTIG Research from $30.00 to $36.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. BTIG Research's price objective indicates a potential upside of 13.14% from the stock's previous close.

GTLB has been the topic of a number of other reports. Mizuho lowered their price target on shares of GitLab from $30.00 to $26.00 and set a "neutral" rating on the stock in a report on Tuesday, May 12th. Needham & Company LLC reaffirmed a "buy" rating and issued a $32.00 price target on shares of GitLab in a report on Monday, April 13th. Canaccord Genuity Group decreased their target price on GitLab from $70.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, March 4th. Barclays lowered their price target on shares of GitLab from $29.00 to $25.00 and set an "underweight" rating on the stock in a report on Wednesday, March 4th. Finally, Wells Fargo & Company dropped their price objective on shares of GitLab from $45.00 to $26.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eighteen have issued a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat.com, GitLab has an average rating of "Hold" and a consensus price target of $37.69.

GitLab Trading Down 5.8%

Shares of GTLB stock opened at $31.82 on Wednesday. GitLab has a twelve month low of $18.73 and a twelve month high of $52.38. The stock has a fifty day simple moving average of $23.30 and a two-hundred day simple moving average of $30.43. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of -90.91 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 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.03. GitLab had a negative net margin of 5.86% and a negative return on equity of 1.73%. The business had revenue of $264.16 million for the quarter, compared to the consensus estimate of $254.23 million. During the same quarter last year, the firm posted $0.17 EPS. The company's revenue for the quarter was up 23.2% on a year-over-year basis. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. Research analysts predict that GitLab will post -0.33 EPS for the current fiscal year.

Insider Transactions at GitLab

In related news, Director Sytse Sijbrandij sold 116,200 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $24.85, for a total value of $2,887,570.00. Following the completion of the sale, the director owned 15,018,251 shares of the company's stock, valued at approximately $373,203,537.35. This trade represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Jacobson sold 459,799 shares of the business's stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $22.37, for a total transaction of $10,285,703.63. The disclosure for this sale is available in the SEC filing. Insiders sold 1,392,308 shares of company stock valued at $31,654,249 over the last quarter. Company insiders own 10.64% of the company's stock.

Institutional Trading of GitLab

Several institutional investors have recently made changes to their positions in GTLB. Allworth Financial LP raised its holdings in GitLab by 124.1% in the 3rd quarter. Allworth Financial LP now owns 558 shares of the company's stock valued at $25,000 after buying an additional 309 shares during the period. Quarry LP purchased a new position in shares of GitLab during the 3rd quarter worth approximately $31,000. Lodestone Wealth Management LLC acquired a new stake in GitLab in the 4th quarter valued at approximately $36,000. Larson Financial Group LLC increased its holdings in GitLab by 92.7% in the 3rd quarter. Larson Financial Group LLC now owns 1,000 shares of the company's stock valued at $45,000 after purchasing an additional 481 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new stake in GitLab in the third quarter valued at approximately $48,000. Hedge funds and other institutional investors own 95.04% of the company's stock.

More GitLab News

Here are the key news stories impacting GitLab this week:

• Positive Sentiment: GitLab beat first-quarter fiscal 2027 expectations, reporting $0.23 in adjusted EPS versus $0.20 expected and revenue of $264.2 million versus $254.2 million expected, with sales up 23.2% year over year. GitLab earnings report and transcript
• Positive Sentiment: Management issued second-quarter fiscal 2027 guidance above Wall Street expectations, with EPS guidance of $0.17-$0.18 versus $0.13 consensus and revenue guidance of $272 million-$274 million around consensus. GitLab Q1 fiscal 2027 financial results
• Positive Sentiment: Rosenblatt Securities reiterated a Buy rating and set a $43 price target, reinforcing a bullish Wall Street view after the report. Rosenblatt Securities rating update
• Neutral Sentiment: Investors also appeared to position ahead of earnings, with unusually heavy call-option activity suggesting speculation around the results rather than a fundamental change. Pre-earnings positioning
• Negative Sentiment: GitLab said it will cut about 14% of its workforce, or roughly 350 employees, and exit 22 countries as part of an AI-focused restructuring, which may signal near-term execution and cost pressures even as it supports longer-term efficiency. WSJ workforce reduction article

About GitLab

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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