NASDAQ:GTLB

GitLab (GTLB) Stock Forecast, Price & News

$33.73

-2.21 (-6.15%)

(As of 06/2/2023 ET)

Compare

Today's Range: $33.55
▼
$36.71
50-Day Range: $26.77
▼
$36.96
52-Week Range: $26.24
▼
$70.96

Volume: 4.36 million shs
Average Volume: 2.01 million shs
Market Capitalization: $5.12 billion

P/E Ratio: N/A
Dividend Yield: N/A
Price Target: $54.35

GitLab MarketRank™ Forecast

Analyst Rating: Moderate Buy
2.67 Rating Score
Upside/Downside: 61.1% Upside
$54.35 Price Target
Short Interest: Bearish
12.40% of Float Sold Short
Dividend Strength: N/A
Sustainability: N/A
News Sentiment: 0.30
Based on 8 Articles This Week
Insider Trading: Acquiring Shares
$21.14 M Bought Last Quarter
Proj. Earnings Growth: Growing
From ($0.92) to ($0.68) Per Share

Overall MarketRank^™

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.47 out of 5 stars

Computer And Technology Sector

129th out of 609 stocks

Prepackaged Software Industry

26th out of 217 stocks

4.3

Analyst's Opinion

Consensus Rating
GitLab has received a consensus rating of Buy. The company's average rating score is 2.67, and is based on 10 buy ratings, 5 hold ratings, and no sell ratings.
Price Target Upside/Downside
According to analysts' consensus price target of $54.35, GitLab has a forecasted upside of 61.1% from its current price of $33.73.
Amount of Analyst Coverage
GitLab has been the subject of 9 research reports in the past 90 days, demonstrating strong analyst interest in this stock.

2.0

Short Interest

Percentage of Shares Shorted
12.40% of the float of GitLab has been sold short.
Short Interest Ratio / Days to Cover
GitLab has a short interest ratio ("days to cover") of 3.5, which is generally considered an acceptable ratio of short interest to trading volume.
Change versus previous month
Short interest in GitLab has recently increased by 23.59%, indicating that investor sentiment is decreasing significantly.

0.0

Dividend Strength

Dividend Yield
GitLab does not currently pay a dividend.
Dividend Growth
GitLab does not have a long track record of dividend growth.

N/A

Sustainability and ESG

Overall ESG (Environmental, Social, and Governance) Score
There is no current Upright™ data available for GTLB.

1.8

News and Social Media Coverage

News Sentiment
GitLab has a news sentiment score of 0.30. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a lower news sentiment than the 0.53 average news sentiment score of Computer and Technology companies.
News Coverage This Week
MarketBeat has tracked 8 news articles for GitLab this week, compared to 5 articles on an average week.
Search Interest
Only 9 people have searched for GTLB on MarketBeat in the last 30 days. This is a decrease of -65% compared to the previous 30 days.
MarketBeat Follows
Only 9 people have added GitLab to their MarketBeat watchlist in the last 30 days. This is a decrease of -10% compared to the previous 30 days.

4.2

Company Ownership

Insider Buying vs. Insider Selling
In the past three months, GitLab insiders have bought 7,533.85% more of their company's stock than they have sold. Specifically, they have bought $21,135,371.00 in company stock and sold $276,864.00 in company stock.
Percentage Held by Insiders
28.04% of the stock of GitLab is held by insiders. A high percentage of insider ownership can be a sign of company health.
Percentage Held by Institutions
48.99% of the stock of GitLab is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

0.6

Earnings and Valuation

Earnings Growth
Earnings for GitLab are expected to grow in the coming year, from ($0.92) to ($0.68) per share.
Price to Earnings Ratio vs. the Market
The P/E ratio of GitLab is -28.83, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Earnings Ratio vs. Sector
The P/E ratio of GitLab is -28.83, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.
Price to Book Value per Share Ratio
GitLab has a P/B Ratio of 6.18. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

See Top Rated MarketRank™ Stocks Here

About GitLab (NASDAQ:GTLB) Stock

GitLab Inc., through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. The company 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. It helps organizations to plan, build, secure, and deploy software to drive business outcomes. The company also provides related training and professional services. The company was formerly known as GitLab B.V. and changed its name to GitLab Inc. in July 2015. The company was founded in 2011 and is headquartered in San Francisco, California.

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GTLB Stock News Headlines

June 3, 2023 | americanbankingnews.com

Stock Traders Buy Large Volume of Put Options on GitLab (NASDAQ:GTLB)

June 3, 2023 | americanbankingnews.com

GitLab (GTLB) to Release Quarterly Earnings on Monday

June 3, 2023 | MarketBeat Internal (Ad)

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June 2, 2023 | msn.com

Earnings Outlook For GitLab

June 2, 2023 | markets.businessinsider.com

Gitlab (GTLB) was upgraded to a Buy Rating at Barclays

June 1, 2023 | fool.com

GitLab (NASDAQ: GTLB)

May 26, 2023 | seekingalpha.com

GitLab: Strong Growth But Valuation Not Attractive

May 24, 2023 | americanbankingnews.com

GitLab (NASDAQ:GTLB) Stock Price Up 7%

June 3, 2023 | MarketBeat Internal (Ad)

Get MarketBeat All Access Free for 30 Days

May 17, 2023 | seekingalpha.com

GitLab: Appealing Growth, But Too Dilutive To Buy

May 15, 2023 | finance.yahoo.com

GitLab to Announce First Quarter Fiscal 2024 Financial Results

May 15, 2023 | finance.yahoo.com

Calculating The Fair Value Of GitLab Inc. (NASDAQ:GTLB)

May 15, 2023 | americanbankingnews.com

GitLab Inc. (NASDAQ:GTLB) Receives $54.00 Average Price Target from Analysts

May 12, 2023 | americanbankingnews.com

GitLab Inc. (NASDAQ:GTLB) Major Shareholder Buys $196,576.28 in Stock

May 12, 2023 | americanbankingnews.com

DA Davidson Begins Coverage on GitLab (NASDAQ:GTLB)

May 10, 2023 | finance.yahoo.com

Reasons to Invest in GitLab (GTLB)

May 10, 2023 | americanbankingnews.com

GitLab Inc. (NASDAQ:GTLB) Insider Dale R. Brown Sells 894 Shares

May 10, 2023 | americanbankingnews.com

GitLab (NASDAQ:GTLB) Stock Price Up 7.4% on Insider Buying Activity

May 9, 2023 | finance.yahoo.com

Do You Think GitLab (GTLB) is a Fundamentally Strong Company?

May 6, 2023 | americanbankingnews.com

GitLab Inc. (NASDAQ:GTLB) Major Shareholder 2021 Gp L.L.C. Gv Acquires 309,931 Shares

May 6, 2023 | americanbankingnews.com

GitLab Inc. (NASDAQ:GTLB) CRO Sells $118,170.00 in Stock

April 25, 2023 | finance.yahoo.com

GitLab To Hold AI Fireside Chat with Sid Sijbrandij

April 20, 2023 | seekingalpha.com

GitLab: Valuation And Growth Expectations Are Much Lower Now

April 20, 2023 | americanbankingnews.com

Brokerages Set GitLab Inc. (NASDAQ:GTLB) PT at $55.60

April 18, 2023 | stockhouse.com

GitLab and Oracle Expand Strategic Collaboration With AI/ML Offering

April 18, 2023 | nasdaq.com

GitLab Becomes Oversold (GTLB)

April 18, 2023 | finance.yahoo.com

Investors Interested In GitLab Inc.'s (NASDAQ:GTLB) Revenues

See More Headlines

GTLB Price History

30 days | 90 days | 365 days | Advanced Chart

GTLB Company Calendar

Last Earnings: 3/13/2023
Today: 6/03/2023
Next Earnings (Confirmed): 6/05/2023
Fiscal Year End: 1/31/2024

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Industry, Sector and Symbol

Stock Exchange: NASDAQ
Industry: Prepackaged software
Sub-Industry: N/A
Sector: Computer and Technology
Current Symbol: NASDAQ:GTLB
CUSIP: N/A
CIK: 1653482
Web: about.gitlab.com
Phone: 415-829-2854
Fax: N/A
Employees: 2,170
Year Founded: N/A

Price Target and Rating

Average Stock Price Forecast: $54.35
High Stock Price Forecast: $104.00
Low Stock Price Forecast: $30.00
Forecasted Upside/Downside: +61.1%
Consensus Rating: Moderate Buy
Rating Score (0-4): 2.67
Research Coverage: 15 Analysts

Profitability

EPS (Most Recent Fiscal Year): ($1.17)
Trailing P/E Ratio: N/A
Forward P/E Ratio: N/A
P/E Growth: N/A
Net Income: $-172,310,000.00
Net Margins: -40.61%
Pretax Margin: -41.32%
Return on Equity: -23.15%
Return on Assets: -16.90%

Debt

Debt-to-Equity Ratio: N/A
Current Ratio: 3.65
Quick Ratio: 3.65

Sales & Book Value

Annual Sales: $424.34 million
Price / Sales: 12.07
Cash Flow: N/A
Price / Cash Flow: N/A
Book Value: $5.46 per share
Price / Book: 6.18

Miscellaneous

Outstanding Shares: 151,800,000
Free Float: 109,235,000
Market Cap: $5.12 billion
Optionable: Not Optionable
Beta: -0.28

Key Executives

Mr. Sytse Sijbrandij (Age 43)
Co-Founder, Chairman, Pres & CEO

Mr. Michael Eugene McBride (Age 49)
Chief Revenue Officer
Comp: $978.16k

Mr. Brian G. Robbins (Age 52)
Chief Financial Officer

Mr. Dale Brown (Age 67)
Principal Accounting Officer

Mr. James Shen
Director of Corp. Fin.

Ms. Robin J. Schulman (Age 49)
Chief Legal Officer, Head of Corp. Affairs & Corp. Sec.

Ms. Natasha Woods
Director of Corp. Communications

Mr. Eliran Mesika
Director of Corp. Devel.

Ms. Ashley Kramer
Chief Marketing & Strategy Officer

Ms. Wendy Nice Barnes
Chief People Officer

Key Competitors

View All Competitors

Insiders & Institutions

View All Insider Transactions
View All Institutional Transactions

GTLB Stock - Frequently Asked Questions

Should I buy or sell GitLab stock right now?: 15 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for GitLab in the last year. There are currently 5 hold ratings and 10 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" GTLB shares.
View GTLB analyst ratings or view top-rated stocks.
What is GitLab's stock price forecast for 2023?: 15 brokers have issued twelve-month price objectives for GitLab's stock. Their GTLB share price forecasts range from $30.00 to $104.00. On average, they predict the company's stock price to reach $54.35 in the next twelve months. This suggests a possible upside of 61.1% from the stock's current price.
View analysts price targets for GTLB or view top-rated stocks among Wall Street analysts.
How have GTLB shares performed in 2023?: GitLab's stock was trading at $45.44 at the beginning of 2023. Since then, GTLB stock has decreased by 25.8% and is now trading at $33.73.
View the best growth stocks for 2023 here.
When is GitLab's next earnings date?: The company is scheduled to release its next quarterly earnings announcement on Monday, June 5th 2023.
View our GTLB earnings forecast.
How can I listen to GitLab's earnings call?: GitLab will be holding an earnings conference call on Monday, June 5th at 4:30 PM Eastern. Interested parties can register for or listen to the call using this link.
How were GitLab's earnings last quarter?: GitLab Inc. (NASDAQ:GTLB) released its earnings results on Monday, March, 13th. The company reported ($0.03) earnings per share for the quarter, beating analysts' consensus estimates of ($0.15) by $0.12. The firm had revenue of $122.90 million for the quarter, compared to analysts' expectations of $119.59 million. GitLab had a negative trailing twelve-month return on equity of 23.15% and a negative net margin of 40.61%. GitLab's quarterly revenue was up 58.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.25) earnings per share.
What ETFs hold GitLab's stock?: ETFs with the largest weight of GitLab (NASDAQ:GTLB) stock in their portfolio include Spear Alpha ETF (SPRX), Wedbush ETFMG Global Cloud Technology ETF (IVES), WisdomTree Cloud Computing Fund (WCLD), Harbor Corporate Culture Leaders ETF (HAPY), AXS Esoterica Nextg Economy ETF (WUGI), Fidelity Cloud Computing ETF (FCLD), ALPS O'Shares Global Internet Giants ETF (OGIG) and Gen Z ETF (ZGEN).
What guidance has GitLab issued on next quarter's earnings?: GitLab issued an update on its first quarter 2024 earnings guidance on Monday, March, 13th. The company provided earnings per share (EPS) guidance of -$0.15--$0.14 for the period, compared to the consensus earnings per share estimate of -$0.16. The company issued revenue guidance of $117.00 million-$118.00 million, compared to the consensus revenue estimate of $126.33 million.

When did GitLab IPO?: (GTLB) raised $598 million in an IPO on Thursday, October 14th 2021. The company issued 10,400,000 shares at $55.00-$60.00 per share.
What is GitLab's stock symbol?: GitLab trades on the NASDAQ under the ticker symbol "GTLB."
Who are GitLab's major shareholders?: GitLab's stock is owned by a number of retail and institutional investors. Top institutional investors include ICONIQ Capital LLC (4.13%), BlackRock Inc. (2.60%), Franklin Resources Inc. (2.22%), Alphabet Inc. (1.27%), Marcho Partners LLP (0.83%) and Fiera Capital Corp (0.79%). Insiders that own company stock include 2021 Gp LLC Gv, August Capital Management Vii,, Crossover Managemen Technology, Dale R Brown, Divesh Makan, Howard Hartenbaum, Iconiq Strategic Partners Vi,, Matthew Jacobson and Michael Eugene Mcbride.
View institutional ownership trends.
How do I buy shares of GitLab?: Shares of GTLB stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
Compare Top Brokerages Here.
What is GitLab's stock price today?: One share of GTLB stock can currently be purchased for approximately $33.73.
How much money does GitLab make?: GitLab (NASDAQ:GTLB) has a market capitalization of $5.12 billion and generates $424.34 million in revenue each year. The company earns $-172,310,000.00 in net income (profit) each year or ($1.17) on an earnings per share basis.
How many employees does GitLab have?: The company employs 2,170 workers across the globe.
How can I contact GitLab?: The official website for the company is about.gitlab.com. The company can be reached via phone at 415-829-2854 or via email at ir@gitlab.com.

This page (NASDAQ:GTLB) was last updated on 6/3/2023 by MarketBeat.com Staff

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