William Blair Has Negative Forecast for GitLab Q2 Earnings

GitLab Inc. (NASDAQ:GTLB - Free Report) - William Blair dropped their Q2 2026 earnings per share estimates for GitLab in a note issued to investors on Wednesday, June 11th. William Blair analyst J. Ader now anticipates that the company will post earnings per share of ($0.10) for the quarter, down from their prior estimate of ($0.07). The consensus estimate for GitLab's current full-year earnings is ($0.31) per share. William Blair also issued estimates for GitLab's Q3 2026 earnings at ($0.06) EPS, Q4 2026 earnings at ($0.06) EPS, FY2026 earnings at ($0.30) EPS and FY2027 earnings at ($0.25) EPS.

GitLab (NASDAQ:GTLB - Get Free Report) last issued its quarterly earnings data on Tuesday, June 10th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.02. The firm had revenue of $214.51 million during the quarter, compared to analysts' expectations of $213.21 million. GitLab had a net margin of 2.17% and a negative return on equity of 4.07%. The business's revenue for the quarter was up 26.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.03 earnings per share.

GTLB has been the subject of several other reports. KeyCorp lowered their price target on GitLab from $80.00 to $60.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. JPMorgan Chase & Co. dropped their target price on shares of GitLab from $58.00 to $52.00 and set a "neutral" rating on the stock in a report on Wednesday, June 11th. Cowen reiterated a "buy" rating on shares of GitLab in a report on Friday, June 6th. Cantor Fitzgerald dropped their price objective on shares of GitLab from $70.00 to $60.00 and set an "overweight" rating on the stock in a report on Wednesday, June 11th. Finally, Macquarie cut their price objective on shares of GitLab from $90.00 to $75.00 and set an "outperform" rating on the stock in a research report on Wednesday, June 11th. Four equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, GitLab has a consensus rating of "Moderate Buy" and a consensus target price of $63.59.

GitLab Price Performance

Shares of GTLB traded down $0.21 during trading hours on Monday, reaching $41.87. The stock had a trading volume of 4,520,100 shares, compared to its average volume of 2,772,154. The firm has a 50-day moving average of $46.48 and a 200 day moving average of $55.13. GitLab has a 52 week low of $37.90 and a 52 week high of $74.18.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. M&T Bank Corp grew its stake in shares of GitLab by 3.1% in the fourth quarter. M&T Bank Corp now owns 4,965 shares of the company's stock valued at $280,000 after acquiring an additional 148 shares in the last quarter. OneDigital Investment Advisors LLC boosted its holdings in GitLab by 4.3% in the 4th quarter. OneDigital Investment Advisors LLC now owns 4,047 shares of the company's stock valued at $228,000 after purchasing an additional 166 shares during the period. Utah Retirement Systems boosted its holdings in GitLab by 3.1% in the 4th quarter. Utah Retirement Systems now owns 6,600 shares of the company's stock valued at $372,000 after purchasing an additional 200 shares during the period. Mariner LLC grew its position in shares of GitLab by 1.7% during the 4th quarter. Mariner LLC now owns 12,583 shares of the company's stock worth $709,000 after purchasing an additional 214 shares in the last quarter. Finally, True Wealth Design LLC increased its holdings in shares of GitLab by 20.0% during the fourth quarter. True Wealth Design LLC now owns 1,297 shares of the company's stock worth $73,000 after purchasing an additional 216 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other GitLab news, CFO Brian G. Robins sold 45,000 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $53.04, for a total value of $2,386,800.00. Following the transaction, the chief financial officer now directly owns 344,105 shares in the company, valued at $18,251,329.20. The trade was a 11.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew Jacobson sold 152,884 shares of the firm's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $52.34, for a total transaction of $8,001,948.56. Following the sale, the director now owns 493,554 shares of the company's stock, valued at approximately $25,832,616.36. This represents a 23.65% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 461,584 shares of company stock valued at $23,192,574. 21.36% of the stock is owned by insiders.

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.