Gitlab (NASDAQ:GTLB) Price Target Lowered to $86.00 at The Goldman Sachs Group

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.

Featured Stories

• Get a free copy of the StockNews.com research report on Gitlab (GTLB)
• 3 Best Nuclear Energy Stocks to Add to Your List
• Metaverse Stock Zedge Is Getting Bought By The Institutions 
• 3 Stocks Leading Recent Gains
• Coupa Software Hits Bottom But What Comes Next? 
• 4 Best Semiconductor Stocks to Buy Now

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.