GitLab (NASDAQ:GTLB) Receives "Outperform" Rating from Macquarie

Key Points

• GitLab's stock has been reaffirmed with an "outperform" rating by analysts at Macquarie, with a target price of $75.00, suggesting a potential upside of 75.43%.
• The company's recent earnings report showed a revenue increase of 26.8% year-over-year, with an EPS of $0.17, exceeding expectations.
• Despite a mix of analysts' ratings, GitLab currently holds an average rating of "Moderate Buy" with a price target of $59.09.

GitLab (NASDAQ:GTLB - Get Free Report)'s stock had its "outperform" rating reiterated by investment analysts at Macquarie in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $75.00 price target on the stock. Macquarie's price target suggests a potential upside of 64.01% from the company's current price.

GTLB has been the subject of a number of other research reports. Rosenblatt Securities reissued a "buy" rating and issued a $58.00 price objective on shares of GitLab in a research note on Thursday. Piper Sandler dropped their price target on shares of GitLab from $85.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday. Cowen reiterated a "buy" rating on shares of GitLab in a report on Friday, June 6th. Truist Financial lowered their price objective on shares of GitLab from $75.00 to $55.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $60.00 target price on shares of GitLab in a research note on Thursday. Nineteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $58.39.

GitLab Stock Performance

Shares of NASDAQ:GTLB traded up $2.27 during trading on Thursday, reaching $45.73. The stock had a trading volume of 7,975,383 shares, compared to its average volume of 5,623,291. The firm's fifty day moving average is $44.79 and its 200 day moving average is $47.19. GitLab has a 52 week low of $37.90 and a 52 week high of $74.18. The stock has a market cap of $7.55 billion, a price-to-earnings ratio of -1,143.25 and a beta of 0.75.

GitLab (NASDAQ:GTLB - Get Free Report) last posted its quarterly earnings data on Tuesday, June 10th. The company reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.15 by $0.02. GitLab had a negative net margin of 0.55% and a negative return on equity of 2.80%. The company had revenue of $214.51 million for the quarter, compared to analyst estimates of $213.21 million. During the same period in the prior year, the firm posted $0.03 EPS. The company's quarterly revenue was up 26.8% on a year-over-year basis. GitLab has set its FY 2026 guidance at 0.740-0.750 EPS. Q2 2026 guidance at 0.160-0.17 EPS. On average, research analysts forecast that GitLab will post -0.31 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Sytse Sijbrandij sold 108,600 shares of the company's stock in a transaction on Monday, August 18th. The shares were 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 accessible through the SEC website. Also, Director Matthew Jacobson sold 129,400 shares of the company's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $42.32, for a total transaction 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 $23,360,513.04. This trade represents a 18.99% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 464,950 shares of company stock valued at $20,025,356. Corporate insiders own 16.37% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GTLB. Dimensional Fund Advisors LP raised its position in GitLab by 30.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 85,949 shares of the company's stock valued at $4,843,000 after purchasing an additional 19,846 shares during the last quarter. Northern Trust Corp increased its stake in shares of GitLab by 20.2% in the 4th quarter. Northern Trust Corp now owns 650,369 shares of the company's stock worth $36,648,000 after acquiring an additional 109,182 shares in the last quarter. Comerica Bank grew its stake in shares of GitLab by 41.8% in the 4th quarter. Comerica Bank now owns 51,980 shares of the company's stock worth $2,929,000 after buying an additional 15,323 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its stake in shares of GitLab by 89.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 7,800 shares of the company's stock worth $440,000 after buying an additional 3,686 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in GitLab by 276.9% during the 4th quarter. Ameriprise Financial Inc. now owns 2,155,016 shares of the company's stock valued at $121,435,000 after purchasing an additional 1,583,221 shares in the last quarter. Institutional investors own 95.04% of the company's stock.

GitLab Company Profile

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.