GitLab (NASDAQ:GTLB) Stock Price Up 6.7% - Still a Buy?

Key Points

• GitLab shares rose 6.7% on Monday, trading as high as $34.87 after closing at $32.72, though volume was well below average.
• Analyst sentiment remains mixed: the stock has a consensus rating of “Hold” with an average price target of $36.58, even after several firms raised targets and one reiterated a buy or outperform view.
• Fundamentals showed solid growth in the latest quarter, with EPS of $0.23 beating estimates and revenue rising 23.2% year over year, while the company issued Q2 2027 guidance of $0.17–$0.18 EPS.

GitLab Inc. (NASDAQ:GTLB - Get Free Report) shares were up 6.7% during trading on Monday . The stock traded as high as $34.87 and last traded at $34.91. Approximately 2,228,702 shares traded hands during mid-day trading, a decline of 63% from the average daily volume of 6,079,072 shares. The stock had previously closed at $32.72.

Analyst Ratings Changes

GTLB has been the topic of a number of analyst reports. Bank of America reissued a "neutral" rating on shares of GitLab in a report on Wednesday, June 3rd. Truist Financial raised their price target on GitLab from $25.00 to $30.00 and gave the stock a "hold" rating in a report on Thursday, July 9th. Wolfe Research reiterated an "outperform" rating and issued a $36.00 price target on shares of GitLab in a research report on Wednesday, June 3rd. Royal Bank Of Canada boosted their price objective on GitLab from $25.00 to $29.00 and gave the company a "sector perform" rating in a research note on Wednesday, June 3rd. Finally, Needham & Company LLC increased their price objective on GitLab from $32.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seventeen have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $36.58.

GitLab Price Performance

The stock has a market cap of $5.89 billion, a P/E ratio of -217.95 and a beta of 0.96. The firm's fifty day moving average price is $28.94 and its two-hundred day moving average price is $28.04.

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

Insider Activity at GitLab

In related news, Director Sytse Sijbrandij sold 116,200 shares of the company's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $28.44, for a total value of $3,304,728.00. Following the transaction, the director directly owned 14,902,051 shares in the company, valued at approximately $423,814,330.44. This represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.64% of the company's stock.

Institutional Investors Weigh In On GitLab

Hedge funds have recently bought and sold shares of the stock. Handelsbanken Fonder AB grew its stake in GitLab by 13.0% in the 2nd quarter. Handelsbanken Fonder AB now owns 46,000 shares of the company's stock worth $1,404,000 after buying an additional 5,300 shares in the last quarter. GAMMA Investing LLC raised its position in shares of GitLab by 60.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,769 shares of the company's stock valued at $85,000 after buying an additional 1,043 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of GitLab by 300.6% during the 2nd quarter. Versant Capital Management Inc now owns 1,867 shares of the company's stock worth $57,000 after acquiring an additional 1,401 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of GitLab by 117.0% during the 1st quarter. Pacer Advisors Inc. now owns 854,928 shares of the company's stock worth $18,501,000 after acquiring an additional 460,887 shares during the last quarter. Finally, Militia Capital Management LLC purchased a new position in GitLab in the first quarter worth $1,480,000. 95.04% of the stock is currently owned by institutional investors.

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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