GitLab (NASDAQ:GTLB) Trading 7.4% Higher - Time to Buy?

Key Points

• GitLab Inc. shares rose by 7.4% during mid-day trading, reaching a last traded price of $43.97, following a previous close of $40.95.
• Analysts maintain a consensus rating of "Moderate Buy" for GitLab, with an average price target of $62.63, despite some recent downward adjustments in price targets from firms like UBS and Needham.
• The company reported a year-over-year revenue increase of 26.8% for the quarter, with earnings per share surpassing expectations at $0.17 compared to a consensus estimate of $0.15.

GitLab Inc. (NASDAQ:GTLB - Get Free Report) traded up 7.4% on Friday . The stock traded as high as $43.77 and last traded at $43.97. 3,447,324 shares changed hands during trading, a decline of 1% from the average session volume of 3,472,329 shares. The stock had previously closed at $40.95.

Analyst Upgrades and Downgrades

GTLB has been the topic of a number of analyst reports. Truist Financial reaffirmed a "buy" rating and issued a $75.00 price target (down previously from $80.00) on shares of GitLab in a research report on Wednesday, June 11th. BTIG Research reduced their target price on shares of GitLab from $86.00 to $67.00 and set a "buy" rating on the stock in a report on Wednesday, June 11th. Royal Bank Of Canada reiterated an "outperform" rating and set a $62.00 price target on shares of GitLab in a report on Wednesday, June 25th. Scotiabank reduced their price objective on shares of GitLab from $80.00 to $67.00 and set a "sector outperform" rating on the stock in a report on Friday, June 6th. Finally, Piper Sandler reiterated an "overweight" rating and set a $85.00 target price on shares of GitLab in a research note on Wednesday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $62.63.

GitLab Stock Performance

The firm's 50-day moving average price is $43.88 and its two-hundred day moving average price is $49.35. The firm has a market cap of $7.22 billion, a PE ratio of 437.00 and a beta of 0.73.

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

Insider Activity

In related news, Director Sytse Sijbrandij sold 108,600 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $45.16, for a total value of $4,904,376.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Karen Blasing sold 3,250 shares of GitLab stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $45.00, for a total value of $146,250.00. Following the transaction, the director directly owned 103,889 shares in the company, valued at approximately $4,675,005. This trade represents a 3.03% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 464,950 shares of company stock valued at $20,025,356. Insiders own 16.37% of the company's stock.

Institutional Trading of GitLab

Several institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC grew its position in GitLab by 9,968.3% during the 1st quarter. GAMMA Investing LLC now owns 43,193 shares of the company's stock worth $2,030,000 after purchasing an additional 42,764 shares during the last quarter. Park Avenue Securities LLC raised its holdings in shares of GitLab by 5.3% in the first quarter. Park Avenue Securities LLC now owns 7,601 shares of the company's stock valued at $357,000 after buying an additional 381 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its stake in shares of GitLab by 19.3% during the first quarter. Wealthcare Advisory Partners LLC now owns 6,578 shares of the company's stock worth $309,000 after buying an additional 1,065 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new position in shares of GitLab during the first quarter worth about $200,000. Finally, Cetera Investment Advisers increased its position in GitLab by 43.4% in the 1st quarter. Cetera Investment Advisers now owns 55,636 shares of the company's stock valued at $2,615,000 after acquiring an additional 16,849 shares during the period. Hedge funds and other institutional investors 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.