GitLab (NASDAQ:GTLB) Upgraded at DA Davidson

Key Points

• GitLab has been upgraded to a "hold" rating by DA Davidson, reflecting analysts' cautious outlook on the stock.
• The stock has experienced a recent upgrade and various rating adjustments from several firms, with an average consensus price target of $62.83.
• GitLab reported a quarterly earnings per share (EPS) of $0.17, exceeding analysts' expectations, with a revenue increase of 26.8% year-over-year.

GitLab (NASDAQ:GTLB - Get Free Report) was upgraded by investment analysts at DA Davidson to a "hold" rating in a research note issued to investors on Monday, August 25th,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Barclays lowered their target price on shares of GitLab from $58.00 to $47.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 11th. Cowen reissued a "buy" rating on shares of GitLab in a research report on Friday, June 6th. Capital One Financial cut shares of GitLab from an "overweight" rating to an "equal weight" rating and set a $46.00 price target for the company. in a research report on Wednesday, July 16th. Raymond James Financial reduced their price target on shares of GitLab from $80.00 to $60.00 and set an "outperform" rating for the company in a research report on Wednesday, June 11th. Finally, BTIG Research reduced their price target on shares of GitLab from $86.00 to $67.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Twenty equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, GitLab currently has an average rating of "Moderate Buy" and an average price target of $62.83.

GitLab Trading Down 2.1%

Shares of GTLB stock traded down $1.01 on Monday, reaching $48.02. 4,988,744 shares of the stock were exchanged, compared to its average volume of 4,543,735. The business's 50 day moving average price is $44.46 and its 200 day moving average price is $47.84. The company has a market capitalization of $7.93 billion, a price-to-earnings ratio of 480.20 and a beta of 0.74. GitLab has a twelve month low of $37.90 and a twelve month high of $74.18.

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

Insider Activity

In other news, Director Matthew Jacobson sold 129,400 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $42.32, for a total value of $5,476,208.00. Following the completion of the sale, the director directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sytse Sijbrandij sold 108,600 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $45.16, for a total transaction of $4,904,376.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 464,950 shares of company stock valued at $20,025,356. Insiders own 21.36% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in GitLab by 9,968.3% during the first 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 in the last quarter. Park Avenue Securities LLC raised its holdings in GitLab by 5.3% during the first quarter. Park Avenue Securities LLC now owns 7,601 shares of the company's stock worth $357,000 after purchasing an additional 381 shares in the last quarter. Wealthcare Advisory Partners LLC grew its position in 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. acquired a new position in GitLab during the first quarter worth about $200,000. Finally, Cetera Investment Advisers grew its position in GitLab by 43.4% during the first quarter. Cetera Investment Advisers now owns 55,636 shares of the company's stock worth $2,615,000 after buying an additional 16,849 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

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.