GitLab (NASDAQ:GTLB) Price Target Raised to $32.00

Key Points

• JPMorgan raised GitLab’s price target from $28 to $32 while keeping a neutral rating, implying only modest upside of about 4.5% from the current share price.
• GitLab’s latest earnings beat expectations, with quarterly EPS of $0.23 versus $0.20 expected and revenue of $264.2 million versus $254.2 million expected, driven by 23.2% year-over-year sales growth.
• Management also lifted Q2 guidance to EPS of $0.17-$0.18 and revenue of $272 million-$274 million, but the company is also undergoing restructuring, including cutting about 14% of its workforce and exiting 22 countries.

GitLab (NASDAQ:GTLB - Get Free Report) had its price objective lifted by JPMorgan Chase & Co. from $28.00 to $32.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target points to a potential upside of 4.54% from the company's current price.

Several other research firms also recently weighed in on GTLB. Guggenheim reiterated a "neutral" rating on shares of GitLab in a research report on Wednesday. Wells Fargo & Company reduced their target price on GitLab from $45.00 to $26.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 4th. Canaccord Genuity Group reduced their target price on GitLab from $70.00 to $40.00 and set a "buy" rating on the stock in a research report on Wednesday, March 4th. Truist Financial reduced their target price on GitLab from $35.00 to $25.00 and set a "hold" rating on the stock in a research report on Wednesday, March 4th. Finally, Mizuho set a $28.00 target price on GitLab in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eighteen have issued a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $37.81.

GitLab Stock Performance

NASDAQ GTLB traded down $1.21 during trading hours on Wednesday, hitting $30.61. 10,965,821 shares of the company's stock were exchanged, compared to its average volume of 6,342,417. The business's 50 day moving average is $23.30 and its 200-day moving average is $30.43. GitLab has a 12-month low of $18.73 and a 12-month high of $52.38. The firm has a market capitalization of $5.21 billion, a P/E ratio of -87.46 and a beta of 0.96.

GitLab (NASDAQ:GTLB - Get Free Report) last released its earnings results on Tuesday, June 2nd. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03. GitLab had a negative return on equity of 1.73% and a negative net margin of 5.86%.The firm had revenue of $264.16 million for the quarter, compared to the consensus estimate of $254.23 million. During the same period in the prior year, the business posted $0.17 earnings per share. The firm'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. As a group, equities research analysts anticipate that GitLab will post -0.33 EPS for the current fiscal year.

Insider Transactions at GitLab

In other news, Director Matthew Jacobson sold 700,109 shares of the firm's stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $22.95, for a total value of $16,067,501.55. Following the transaction, the director directly owned 325 shares in the company, valued at $7,458.75. This trade represents a 99.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sytse Sijbrandij sold 116,200 shares of the firm's stock in a transaction dated 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 transaction, the director owned 15,018,251 shares in the company, valued at approximately $373,203,537.35. This trade represents a 0.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 1,392,308 shares of company stock worth $31,654,249. Company insiders own 10.64% of the company's stock.

Hedge Funds Weigh In On GitLab

A number of large investors have recently modified their holdings of GTLB. Goldman Sachs Group Inc. raised its holdings in shares of GitLab by 1.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 776,521 shares of the company's stock worth $36,496,000 after purchasing an additional 12,200 shares during the period. Woodline Partners LP purchased a new stake in shares of GitLab during the 1st quarter valued at about $314,000. Russell Investments Group Ltd. raised its holdings in shares of GitLab by 31.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,112 shares of the company's stock valued at $321,000 after buying an additional 1,709 shares during the period. California Public Employees Retirement System raised its holdings in shares of GitLab by 17.0% during the 2nd quarter. California Public Employees Retirement System now owns 167,870 shares of the company's stock valued at $7,573,000 after buying an additional 24,448 shares during the period. Finally, State Street Corp raised its holdings in shares of GitLab by 7.0% during the 2nd quarter. State Street Corp now owns 2,283,597 shares of the company's stock valued at $103,013,000 after buying an additional 148,713 shares during the period. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

GitLab News Summary

Here are the key news stories impacting GitLab this week:

• Positive Sentiment: GitLab beat expectations with Q1 EPS of $0.23 versus $0.20 expected and revenue of $264.2 million versus $254.2 million expected, with sales up 23.2% year over year; that kind of top- and bottom-line outperformance is helping support the stock. GitLab Reports First Quarter Fiscal Year 2027 Financial Results
• Positive Sentiment: The company lifted Q2 fiscal 2027 guidance to EPS of $0.17-$0.18 and revenue of $272 million-$274 million, both at or above analyst expectations, which suggests management sees continued demand strength.
• Positive Sentiment: Several analysts turned more constructive after earnings, including BTIG and Needham raising price targets and Rosenblatt reiterating a buy rating, which reinforces the view that the earnings report improved the outlook.
• Neutral Sentiment: TD Cowen reaffirmed its hold rating with a $29 price target, implying only modest downside versus recent trading levels and signaling that not all analysts see immediate upside from here.
• Negative Sentiment: GitLab announced it will cut about 14% of its workforce, or roughly 350 employees, and exit 22 countries as part of a restructuring tied to its AI-focused strategy; while this may improve efficiency, layoffs and international exits can raise concern about transition costs and execution risk. GitLab cuts 14% of staff as it scales its platform to serve AI workloads

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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