GitLab (NASDAQ:GTLB) Stock Price Up 2.2% - Here's Why

Key Points

• GitLab's stock price increased by 2.2% during trading on Monday, with shares closing at $46.74, while trading volume saw a decline of 43% compared to its average.
• Analysts have adjusted price targets for GitLab, with KeyCorp lowering their target to $53 and JPMorgan reducing theirs to $52, indicating mixed sentiments among market experts.
• GitLab reported quarterly earnings of $0.17 per share, surpassing expectations, and noted a 26.8% increase in revenue year-over-year, showcasing strong growth amidst varied analyst ratings.

GitLab Inc. (NASDAQ:GTLB - Get Free Report) shares rose 2.2% during trading on Monday . The company traded as high as $47.23 and last traded at $46.74. Approximately 2,139,602 shares changed hands during trading, a decline of 43% from the average daily volume of 3,727,749 shares. The stock had previously closed at $45.73.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. KeyCorp cut their price target on shares of GitLab from $60.00 to $53.00 and set an "overweight" rating on the stock in a research report on Thursday. JPMorgan Chase & Co. dropped their price target on shares of GitLab from $58.00 to $52.00 and set a "neutral" rating for the company in a research report on Wednesday, June 11th. Capital One Financial downgraded shares of GitLab from an "overweight" rating to an "equal weight" rating and set a $46.00 price target on the stock. in a report on Wednesday, July 16th. UBS Group decreased their price target on shares of GitLab from $73.00 to $60.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Macquarie reaffirmed an "outperform" rating and set a $75.00 target price on shares of GitLab in a research note on Thursday. Nineteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $58.39.

GitLab Stock Up 4.5%

The company has a fifty day simple moving average of $44.79 and a two-hundred day simple moving average of $47.05. The stock has a market capitalization of $7.89 billion, a P/E ratio of -1,196.83 and a beta of 0.74.

GitLab (NASDAQ:GTLB - Get Free Report) last issued its quarterly earnings results 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. The company had revenue of $214.51 million during the quarter, compared to analysts' expectations of $213.21 million. GitLab had a negative return on equity of 2.71% and a negative net margin of 0.55%.The business's quarterly revenue was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 earnings per share. GitLab has set its FY 2026 guidance at 0.740-0.750 EPS. Q2 2026 guidance at 0.160-0.17 EPS. As a group, equities analysts forecast that GitLab Inc. will post -0.31 earnings per share for the current year.

Insider Activity

In other news, Director Karen Blasing sold 3,250 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $45.00, for a total value of $146,250.00. Following the completion of the transaction, the director owned 103,889 shares in the company, valued at $4,675,005. This trade represents a 3.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sytse Sijbrandij sold 108,600 shares of GitLab stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $41.44, for a total value of $4,500,384.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 464,950 shares of company stock worth $20,025,356. Corporate insiders own 21.36% of the company's stock.

Institutional Trading of GitLab

A number of hedge funds and other institutional investors have recently modified their holdings of GTLB. Cullen Frost Bankers Inc. raised its position in shares of GitLab by 174.9% in the first quarter. Cullen Frost Bankers Inc. now owns 525 shares of the company's stock valued at $25,000 after buying an additional 334 shares in the last quarter. Cloud Capital Management LLC bought a new position in shares of GitLab in the first quarter worth approximately $29,000. Twin Tree Management LP purchased a new position in GitLab during the first quarter valued at $29,000. CoreCap Advisors LLC increased its stake in GitLab by 327.5% in the 4th quarter. CoreCap Advisors LLC now owns 590 shares of the company's stock worth $33,000 after buying an additional 452 shares during the period. Finally, Harbour Investments Inc. raised its holdings in shares of GitLab by 447.6% in the first quarter. Harbour Investments Inc. now owns 898 shares of the company's stock worth $42,000 after buying an additional 734 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

About GitLab

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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