GitLab (NASDAQ:GTLB) Stock Rating Lowered by Capital One Financial

GitLab (NASDAQ:GTLB - Get Free Report) was downgraded by investment analysts at Capital One Financial from an "overweight" rating to an "equal weight" rating in a report released on Wednesday, Marketbeat reports. They presently have a $46.00 price objective on the stock. Capital One Financial's price objective suggests a potential upside of 1.39% from the stock's previous close. Capital One Financial also issued estimates for GitLab's Q1 2027 earnings at ($0.09) EPS, Q2 2027 earnings at ($0.10) EPS, Q3 2027 earnings at ($0.07) EPS, Q4 2027 earnings at ($0.03) EPS and FY2027 earnings at ($0.30) EPS.

A number of other research analysts have also commented on the company. Morgan Stanley upped their price target on GitLab from $53.00 to $56.00 and gave the stock an "overweight" rating in a report on Wednesday, June 11th. The Goldman Sachs Group restated a "neutral" rating and issued a $50.00 target price on shares of GitLab in a research note on Tuesday, June 24th. Cantor Fitzgerald cut their target price on GitLab from $70.00 to $60.00 and set an "overweight" rating for the company in a research note on Wednesday, June 11th. Needham & Company LLC cut their target price on GitLab from $85.00 to $55.00 and set a "buy" rating for the company in a research note on Wednesday, June 11th. Finally, JPMorgan Chase & Co. cut their target price on GitLab from $58.00 to $52.00 and set a "neutral" rating for the company in a research note on Wednesday, June 11th. Five equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, GitLab has a consensus rating of "Moderate Buy" and an average price target of $62.63.

GitLab Stock Performance

Shares of NASDAQ GTLB traded up $1.45 during trading hours on Wednesday, hitting $45.37. The stock had a trading volume of 3,304,120 shares, compared to its average volume of 2,860,809. The company has a market capitalization of $7.50 billion, a P/E ratio of 453.70 and a beta of 0.74. The firm's 50-day moving average price is $45.94 and its two-hundred day moving average price is $52.42. GitLab has a 52 week low of $37.90 and a 52 week high of $74.18.

GitLab (NASDAQ:GTLB - Get Free Report) last posted its earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.02. GitLab had a negative return on equity of 4.07% and a net margin of 2.17%. The firm had revenue of $214.51 million during the quarter, compared to analyst estimates of $213.21 million. During the same period in the previous year, the company earned $0.03 EPS. The company's revenue for the quarter was up 26.8% on a year-over-year basis. As a group, analysts expect that GitLab will post -0.31 EPS for the current fiscal year.

Insider Transactions at GitLab

In other GitLab news, Director Matthew Jacobson sold 129,400 shares of the stock in a transaction dated 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 transaction, the director owned 551,997 shares of the company's stock, valued at approximately $23,360,513.04. This represents a 18.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sytse Sijbrandij sold 108,600 shares of the stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $43.33, for a total value of $4,705,638.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 509,950 shares of company stock worth $23,288,223. 16.37% of the stock is owned by insiders.

Institutional Investors Weigh In On GitLab

A number of hedge funds have recently modified their holdings of GTLB. Cullen Frost Bankers Inc. grew 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 worth $25,000 after buying an additional 334 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of GitLab by 5,700.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company's stock worth $29,000 after buying an additional 513 shares in the last quarter. Cloud Capital Management LLC bought a new position in shares of GitLab during the first quarter worth about $29,000. Twin Tree Management LP bought a new position in shares of GitLab during the first quarter worth about $29,000. Finally, CoreCap Advisors LLC grew 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 worth $33,000 after buying an additional 452 shares in 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.