GitLab (NASDAQ:GTLB) Given New $53.00 Price Target at KeyCorp

Key Points

• KeyCorp has reduced its price target for GitLab (NASDAQ:GTLB) from $60.00 to $53.00, indicating a potential upside of 12.98% from its previous close, while maintaining an "overweight" rating.
• A total of nineteen analysts have issued a Buy rating on GitLab, with a consensus price target of $59.30.
• GitLab reported quarterly earnings of $0.17 per share, surpassing estimates, with revenue growth of 26.8% year-over-year.

GitLab (NASDAQ:GTLB - Free Report) had its target price cut by KeyCorp from $60.00 to $53.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered their price target on shares of GitLab from $58.00 to $52.00 and set a "neutral" rating for the company in a research report on Wednesday, June 11th. Wells Fargo & Company lowered their price target on shares of GitLab from $65.00 to $60.00 and set an "overweight" rating for the company in a research report on Wednesday, June 11th. DA Davidson upgraded shares of GitLab to a "hold" rating in a research report on Monday, August 25th. Zacks Research upgraded shares of GitLab to a "strong sell" rating in a research report on Monday, August 11th. Finally, Scotiabank lowered their price target on shares of GitLab from $80.00 to $67.00 and set a "sector outperform" rating for the company in a research report on Friday, June 6th. Nineteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $58.39.

GitLab Stock Up 5.2%

GTLB stock traded up $2.27 during trading on Thursday, hitting $45.73. 7,975,383 shares of the company's stock traded hands, compared to its average volume of 5,623,291. GitLab has a 52 week low of $37.90 and a 52 week high of $74.18. The stock has a fifty day moving average price of $44.79 and a two-hundred day moving average price of $47.19. The stock has a market capitalization 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 released its earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $214.51 million during the quarter, compared to analyst estimates of $213.21 million. During the same quarter in the previous year, the firm earned $0.03 earnings per share. The firm'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, equities research analysts expect that GitLab will post -0.31 EPS for the current fiscal year.

Insider Buying and Selling

In related 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 owned 551,997 shares of the company's stock, valued at $23,360,513.04. This represents a 18.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction of $4,904,376.00. The disclosure for this sale can be found here. Insiders sold 464,950 shares of company stock valued at $20,025,356 over the last 90 days. 16.37% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GitLab

Several institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its holdings in GitLab by 9,968.3% in the 1st quarter. GAMMA Investing LLC now owns 43,193 shares of the company's stock valued at $2,030,000 after acquiring an additional 42,764 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in GitLab by 5.3% in the 1st quarter. Park Avenue Securities LLC now owns 7,601 shares of the company's stock valued at $357,000 after acquiring an additional 381 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in GitLab by 19.3% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 6,578 shares of the company's stock valued at $309,000 after acquiring an additional 1,065 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in GitLab in the 1st quarter valued at about $200,000. Finally, Cetera Investment Advisers lifted its holdings 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 last quarter. Institutional investors and hedge funds 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.