GitLab (NASDAQ:GTLB - Get Free Report) posted its quarterly earnings data on Tuesday. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.02, Briefing.com reports. The company had revenue of $214.51 million for the quarter, compared to the consensus estimate of $213.21 million. GitLab had a negative net margin of 6.83% and a negative return on equity of 11.72%. The firm's revenue was up 26.8% compared to the same quarter last year. During the same period last year, the company earned $0.03 earnings per share. GitLab updated its FY 2026 guidance to 0.740-0.750 EPS and its Q2 2026 guidance to 0.160-0.17 EPS.
GitLab Stock Performance
Shares of GitLab stock traded down $5.14 on Wednesday, hitting $43.37. 26,512,114 shares of the company's stock were exchanged, compared to its average volume of 3,142,295. The company has a 50-day simple moving average of $46.37 and a 200-day simple moving average of $55.81. GitLab has a 1 year low of $37.90 and a 1 year high of $74.18. The stock has a market capitalization of $7.11 billion, a PE ratio of -135.53 and a beta of 0.75.
Insider Transactions at GitLab
In other news, Director Karen Blasing sold 3,250 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $45.00, for a total value of $146,250.00. Following the sale, the director now owns 111,983 shares of the company's stock, valued at approximately $5,039,235. This represents a 2.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sytse Sijbrandij sold 108,600 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $42.87, for a total transaction of $4,655,682.00. The disclosure for this sale can be found here. Insiders sold a total of 461,584 shares of company stock valued at $23,192,574 over the last three months. Corporate insiders own 16.37% of the company's stock.
Institutional Trading of GitLab
An institutional investor recently raised its position in GitLab stock. Goldman Sachs Group Inc. boosted its position in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 1.6% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 776,521 shares of the company's stock after acquiring an additional 12,200 shares during the quarter. Goldman Sachs Group Inc. owned about 0.48% of GitLab worth $36,496,000 at the end of the most recent reporting period. 95.04% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on GTLB shares. JPMorgan Chase & Co. lowered their target price on GitLab from $58.00 to $52.00 and set a "neutral" rating on the stock in a research report on Wednesday. Scotiabank lowered their price target on GitLab from $80.00 to $67.00 and set a "sector outperform" rating on the stock in a research report on Friday, June 6th. Royal Bank of Canada cut their price objective on GitLab from $68.00 to $62.00 and set an "outperform" rating for the company in a report on Wednesday. The Goldman Sachs Group reissued a "neutral" rating and issued a $50.00 price objective (down previously from $63.00) on shares of GitLab in a research report on Wednesday. Finally, Barclays dropped their target price on shares of GitLab from $58.00 to $47.00 and set an "equal weight" rating on the stock in a report on Wednesday. Four investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, GitLab currently has an average rating of "Moderate Buy" and a consensus target price of $63.68.
Get Our Latest Stock Analysis on GTLB
GitLab Company Profile
(
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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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