GitLab (NASDAQ:GTLB) Given New $70.00 Price Target at Piper Sandler

Key Points

• Piper Sandler has decreased its price target for GitLab's stock from $85.00 to $70.00, while maintaining an "overweight" rating, which indicates a potential upside of 49.22% from its current price.
• Overall, GitLab has received numerous target price adjustments from analysts, with estimated price targets ranging from $55.00 to $70.00, reflecting a consensus rating of "Moderate Buy."
• GitLab recently reported a quarterly earnings per share of $0.17, surpassing the consensus estimate, and its revenue increased by 26.8% year-over-year, amounting to $214.51 million.

GitLab (NASDAQ:GTLB - Get Free Report) had its target price cut by Piper Sandler from $85.00 to $70.00 in a report released on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Piper Sandler's price target would indicate a potential upside of 53.07% from the stock's previous close.

GTLB has been the subject of several other reports. Cowen reiterated a "buy" rating on shares of GitLab in a research note on Friday, June 6th. Needham & Company LLC reiterated a "buy" rating and set a $55.00 price objective on shares of GitLab in a research note on Thursday. Barclays decreased their price objective 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. Canaccord Genuity Group reduced their target price on shares of GitLab from $76.00 to $70.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, Wells Fargo & Company reduced their target price on shares of GitLab from $65.00 to $60.00 and set an "overweight" rating on the stock in a research report on Wednesday, June 11th. Nineteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $58.39.

GitLab Trading Up 5.2%

GTLB traded up $2.27 during trading on Thursday, hitting $45.73. 7,975,383 shares of the company's stock were exchanged, compared to its average volume of 5,623,291. GitLab has a 1 year low of $37.90 and a 1 year high of $74.18. The stock has a 50 day moving average price of $44.79 and a 200 day moving average price of $47.19. The firm has a market cap of $7.55 billion, a P/E ratio of -1,143.25 and a beta of 0.75.

GitLab (NASDAQ:GTLB - Get Free Report) last released its quarterly earnings data on Tuesday, June 10th. The company reported $0.17 earnings per share (EPS) for the quarter, topping 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 company had revenue of $214.51 million during the quarter, compared to the consensus estimate of $213.21 million. During the same period in the previous year, the firm earned $0.03 earnings per share. GitLab's revenue for the quarter 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. Analysts forecast that GitLab will post -0.31 earnings per share for the current fiscal year.

Insider Transactions at GitLab

In related news, 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 value of $5,476,208.00. Following the sale, the director directly 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 legal filing with the SEC, which is accessible through this link. Also, Director Karen Blasing sold 3,250 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $45.00, for a total transaction of $146,250.00. Following the completion of the sale, the director directly owned 103,889 shares in the company, valued at $4,675,005. This represents a 3.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 464,950 shares of company stock valued at $20,025,356. Corporate insiders own 16.37% of the company's stock.

Institutional Trading of GitLab

Several institutional investors have recently added to or reduced their stakes in GTLB. Dimensional Fund Advisors LP raised its holdings in GitLab by 30.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 85,949 shares of the company's stock valued at $4,843,000 after acquiring an additional 19,846 shares in the last quarter. Northern Trust Corp raised its holdings in GitLab by 20.2% in the fourth quarter. Northern Trust Corp now owns 650,369 shares of the company's stock valued at $36,648,000 after acquiring an additional 109,182 shares in the last quarter. Comerica Bank raised its holdings in GitLab by 41.8% in the fourth quarter. Comerica Bank now owns 51,980 shares of the company's stock valued at $2,929,000 after acquiring an additional 15,323 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in GitLab by 89.6% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 7,800 shares of the company's stock valued at $440,000 after acquiring an additional 3,686 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in GitLab by 276.9% in the fourth quarter. Ameriprise Financial Inc. now owns 2,155,016 shares of the company's stock valued at $121,435,000 after acquiring an additional 1,583,221 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

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.