UBS Group Lowers GitLab (NASDAQ:GTLB) Price Target to $60.00

Key Points

• UBS Group has lowered its price target for GitLab from $73.00 to $60.00, while maintaining a "buy" rating for the stock, indicating a potential upside of 27.90%.
• Other analysts have also reduced their price targets for GitLab, with JPMorgan Chase setting it at $52.00 and Cantor Fitzgerald at $60.00.
• GitLab reported earnings of $0.17 per share, surpassing expectations and showing a significant revenue increase of 26.8% year-over-year.

GitLab (NASDAQ:GTLB - Free Report) had its price target decreased by UBS Group from $73.00 to $60.00 in a research report sent to investors on Thursday,Benzinga reports. UBS Group currently has a buy rating on the stock.

A number of other brokerages have also weighed in on GTLB. Raymond James Financial lowered their target price on GitLab from $60.00 to $55.00 and set an "outperform" rating for the company in a research note on Thursday. Macquarie reiterated an "outperform" rating and issued a $75.00 price objective on shares of GitLab in a research report on Wednesday, June 25th. KeyCorp lowered their price objective on GitLab from $60.00 to $53.00 and set an "overweight" rating for the company in a research report on Thursday. DA Davidson upgraded GitLab to a "hold" rating in a research report on Monday, August 25th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $58.00 price objective on shares of GitLab in a research report on Thursday. Nineteen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $58.39.

GitLab Price Performance

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

GitLab (NASDAQ:GTLB - Get Free Report) last announced its earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.02. GitLab had a negative return on equity of 2.80% and a negative net margin of 0.55%.The company had revenue of $214.51 million during the quarter, compared to analyst estimates of $213.21 million. During the same period last year, the company posted $0.03 earnings per share. The firm's quarterly revenue 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. On average, analysts forecast that GitLab will post -0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GitLab news, Director Matthew Jacobson sold 129,400 shares of the firm's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $42.32, for a total transaction of $5,476,208.00. Following the transaction, the director owned 551,997 shares in the company, valued at approximately $23,360,513.04. This trade represents a 18.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sytse Sijbrandij sold 108,600 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $41.44, for a total value of $4,500,384.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 464,950 shares of company stock worth $20,025,356. Insiders own 16.37% of the company's stock.

Hedge Funds Weigh In On GitLab

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GTLB. Eminence Capital LP boosted its holdings in GitLab by 148.9% during the second quarter. Eminence Capital LP now owns 6,218,607 shares of the company's stock worth $280,521,000 after buying an additional 3,720,406 shares during the last quarter. Atreides Management LP boosted its holdings in GitLab by 867.3% during the second quarter. Atreides Management LP now owns 3,938,198 shares of the company's stock worth $177,652,000 after buying an additional 3,531,070 shares during the last quarter. Champlain Investment Partners LLC boosted its holdings in GitLab by 251.3% during the second quarter. Champlain Investment Partners LLC now owns 4,512,197 shares of the company's stock worth $203,545,000 after buying an additional 3,227,717 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in GitLab by 2,456.8% during the first quarter. 1832 Asset Management L.P. now owns 2,295,000 shares of the company's stock worth $107,865,000 after buying an additional 2,205,238 shares during the last quarter. Finally, Norges Bank bought a new position in GitLab during the second quarter worth about $93,489,000. 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.