GitLab (NASDAQ:GTLB) Price Target Lowered to $55.00 at Truist Financial

Key Points

• Truist Financial has lowered its price target for GitLab (NASDAQ:GTLB) from $75.00 to $55.00, maintaining a "buy" rating which suggests a potential upside of 17.25%.
• Other firms have also adjusted their targets, with Barclays reducing theirs to $47.00 and Morgan Stanley increasing it to $56.00, while the consensus price target for GitLab is $59.30.
• GitLab reported its quarterly earnings on June 10th, beating expectations with $0.17 EPS and revenue of $214.51 million, reflecting a 26.8% year-over-year increase.

GitLab (NASDAQ:GTLB - Free Report) had its price objective trimmed by Truist Financial from $75.00 to $55.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

GTLB has been the subject of several other reports. Royal Bank Of Canada reissued an "outperform" rating and issued a $62.00 price objective on shares of GitLab in a research report on Wednesday, June 25th. Wells Fargo & Company reduced their price objective on GitLab from $65.00 to $60.00 and set an "overweight" rating for the company in a research report on Wednesday, June 11th. JPMorgan Chase & Co. reduced their price objective on GitLab from $58.00 to $52.00 and set a "neutral" rating for the company in a research report on Wednesday, June 11th. KeyCorp reduced their price objective on GitLab from $60.00 to $53.00 and set an "overweight" rating for the company in a research report on Thursday. Finally, Barclays reduced their price objective on GitLab from $58.00 to $47.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 11th. Nineteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $58.39.

GitLab Price Performance

Shares of NASDAQ GTLB traded up $2.27 during trading hours on Thursday, hitting $45.73. 7,975,383 shares of the stock were exchanged, compared to its average volume of 5,623,291. GitLab has a one year low of $37.90 and a one year high of $74.18. The firm has a market capitalization of $7.55 billion, a P/E ratio of -1,143.25 and a beta of 0.75. The company's 50 day moving average is $44.79 and its 200 day moving average is $47.19.

GitLab (NASDAQ:GTLB - Get Free Report) last posted its quarterly earnings data 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. GitLab had a negative return on equity of 2.80% and a negative net margin of 0.55%.The company had revenue of $214.51 million during the quarter, compared to analysts' expectations of $213.21 million. During the same period in the prior year, the business earned $0.03 earnings per share. GitLab's revenue for the quarter was up 26.8% compared to the same quarter last year. GitLab has set its FY 2026 guidance at 0.740-0.750 EPS. Q2 2026 guidance at 0.160-0.17 EPS. Research analysts anticipate that GitLab will post -0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Karen Blasing sold 3,250 shares of the firm's stock in a transaction 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 completion of the transaction, the director directly owned 103,889 shares of the company's stock, valued at $4,675,005. This trade 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 this hyperlink. Also, Director Matthew Jacobson sold 129,400 shares of the firm's stock in a transaction 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 of the company's stock, valued at approximately $23,360,513.04. This trade represents a 18.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 464,950 shares of company stock valued at $20,025,356 over the last ninety days. 16.37% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cullen Frost Bankers Inc. lifted its holdings in shares of GitLab by 174.9% during the first quarter. Cullen Frost Bankers Inc. now owns 525 shares of the company's stock valued at $25,000 after acquiring an additional 334 shares during the period. CoreCap Advisors LLC lifted its holdings in shares of GitLab by 327.5% during the fourth quarter. CoreCap Advisors LLC now owns 590 shares of the company's stock valued at $33,000 after acquiring an additional 452 shares during the period. Twin Tree Management LP bought a new position in shares of GitLab during the first quarter valued at $29,000. Cloud Capital Management LLC bought a new position in shares of GitLab during the first quarter valued at $29,000. Finally, Harbour Investments Inc. lifted its holdings in shares of GitLab by 447.6% during the first quarter. Harbour Investments Inc. now owns 898 shares of the company's stock valued at $42,000 after acquiring an additional 734 shares during the period. 95.04% of the stock is owned by institutional investors.

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.