Gitlab (NASDAQ:GTLB - Get Rating) had its price target lowered by stock analysts at The Goldman Sachs Group from $100.00 to $86.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a "neutral" rating on the stock. The Goldman Sachs Group's price target suggests a potential upside of 96.80% from the stock's previous close.
Other equities analysts have also recently issued research reports about the company. Cowen cut their price target on Gitlab from $145.00 to $130.00 and set an "outperform" rating for the company in a report on Tuesday, December 7th. Bank of America lowered their price objective on Gitlab from $125.00 to $105.00 and set a "buy" rating for the company in a research note on Wednesday, March 9th. JPMorgan Chase & Co. raised Gitlab from a "neutral" rating to an "overweight" rating and set a $99.00 price objective for the company in a research note on Thursday, January 27th. Truist Financial lowered their price objective on Gitlab from $175.00 to $105.00 and set a "buy" rating for the company in a research note on Tuesday. Finally, KeyCorp lowered their price objective on Gitlab from $115.00 to $50.00 and set an "overweight" rating for the company in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $97.56.
NASDAQ GTLB traded up $8.03 during trading on Wednesday, hitting $43.70. 32,188 shares of the stock traded hands, compared to its average volume of 1,171,584. The company has a 50-day moving average of $60.41. Gitlab has a 12-month low of $30.74 and a 12-month high of $137.00.
Gitlab (NASDAQ:GTLB - Get Rating) last released its quarterly earnings results on Monday, March 14th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.09. Equities analysts predict that Gitlab will post -1.71 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the business. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Gitlab during the 4th quarter valued at $145,000. Rockefeller Capital Management L.P. bought a new stake in Gitlab during the 4th quarter valued at $178,000. ARK Investment Management LLC purchased a new position in shares of Gitlab in the 4th quarter valued at $199,000. Renaissance Technologies LLC purchased a new position in shares of Gitlab in the 4th quarter valued at $226,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of Gitlab in the 4th quarter valued at $226,000. 7.55% of the stock is owned by institutional investors and hedge funds.
Gitlab Company Profile (Get Rating)
GitLab Inc is the provider of The DevOps platform, a single application that brings together development, operations, IT, security, and business teams to deliver desired business outcomes. GitLab Inc is based in SAN FRANCISCO.
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