GitLab (NASDAQ:GTLB) Stock Price Expected to Rise, Bank of America Analyst Says

Key Points

• Bank of America raised GitLab’s price target from $38 to $45 while maintaining a “neutral” rating, implying about 6.4% upside from the reported share price.
• Analyst sentiment remains cautious overall: GitLab has a consensus “Hold” rating and an average price target of $38.29, despite some firms maintaining “Buy” or “Outperform” recommendations.
• GitLab’s latest quarter exceeded expectations, with $0.23 in EPS versus $0.20 expected and revenue of $264.16 million, up 23.2% year over year; however, the company remains unprofitable on a net-margin basis.

GitLab (NASDAQ:GTLB - Get Free Report) had its price objective upped by equities researchers at Bank of America from $38.00 to $45.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Bank of America's price target would indicate a potential upside of 6.41% from the company's current price.

Several other equities research analysts have also recently commented on the company. Sanford C. Bernstein restated an "outperform" rating on shares of GitLab in a research note on Monday, June 29th. Needham & Company LLC raised their price target on shares of GitLab from $32.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. lifted their price objective on shares of GitLab from $28.00 to $32.00 and gave the company a "neutral" rating in a report on Wednesday, June 3rd. UBS Group boosted their price objective on shares of GitLab from $32.00 to $35.00 and gave the stock a "neutral" rating in a research report on Friday, July 10th. Finally, Zacks Research cut shares of GitLab from a "strong-buy" rating to a "hold" rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $38.29.

GitLab Price Performance

Shares of GitLab stock traded up $0.79 on Wednesday, hitting $42.29. The company had a trading volume of 1,529,416 shares, compared to its average volume of 5,833,927. The stock has a 50-day moving average of $32.87 and a 200-day moving average of $28.09. GitLab has a twelve month low of $18.73 and a twelve month high of $52.38. The firm has a market capitalization of $7.14 billion, a P/E ratio of -264.59 and a beta of 0.94.

GitLab (NASDAQ:GTLB - Get Free Report) last issued its quarterly earnings data on Tuesday, June 2nd. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.03. The business had revenue of $264.16 million for the quarter, compared to analyst estimates of $254.23 million. GitLab had a negative net margin of 2.49% and a positive return on equity of 0.31%. The firm's quarterly revenue was up 23.2% on a year-over-year basis. During the same period last year, the business posted $0.17 earnings per share. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. Equities analysts predict that GitLab will post -0.18 EPS for the current year.

Insider Transactions at GitLab

In other news, CAO Simon Mundy sold 8,725 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $38.00, for a total value of $331,550.00. Following the completion of the sale, the chief accounting officer directly owned 105,332 shares of the company's stock, valued at $4,002,616. This trade represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sytse Sijbrandij sold 116,200 shares of GitLab stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $28.44, for a total value of $3,304,728.00. Following the transaction, the director owned 14,902,051 shares of the company's stock, valued at $423,814,330.44. This represents a 0.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.64% of the company's stock.

Institutional Investors Weigh In On GitLab

A number of large investors have recently added to or reduced their stakes in GTLB. Goldman Sachs Group Inc. boosted its position in GitLab by 1.6% during the first 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 bought a new position in shares of GitLab in the first quarter valued at about $314,000. Russell Investments Group Ltd. lifted its stake 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 worth $321,000 after buying an additional 1,709 shares during the last quarter. California Public Employees Retirement System lifted its stake 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 worth $7,573,000 after buying an additional 24,448 shares during the last quarter. Finally, State Street Corp lifted its stake 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 worth $103,013,000 after buying an additional 148,713 shares during the last quarter. Institutional investors own 95.04% of the company's stock.

GitLab Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source