GitLab (NASDAQ:GTLB) Trading Up 4.9% – What’s Next?

GitLab Inc. (NASDAQ:GTLB) shares were up 4.9% during mid-day trading on Friday . The company traded as high as $45.84 and last traded at $45.61. Approximately 2,935,906 shares changed hands during trading, a decline of 21% from the average daily volume of 3,706,200 shares. The stock had previously closed at $43.46.

Analyst Upgrades and Downgrades

GTLB has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $60.00 target price on shares of GitLab in a research note on Thursday. Wells Fargo & Company cut their price target on GitLab from $60.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday. BTIG Research cut their price target on GitLab from $67.00 to $57.00 and set a “buy” rating for the company in a report on Thursday. Rosenblatt Securities reissued a “buy” rating and set a $58.00 price objective on shares of GitLab in a research note on Thursday. Finally, KeyCorp lowered their price objective on shares of GitLab from $60.00 to $53.00 and set an “overweight” rating for the company in a research note on Thursday. Nineteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $58.39.

GitLab Trading Up 5.2%

The company’s 50 day moving average price is $44.79 and its 200-day moving average price is $47.19. The company has a market capitalization of $7.55 billion, a PE ratio of -1,143.25 and a beta of 0.75.

GitLab (NASDAQ:GTLB) last announced its quarterly earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $214.51 million during the quarter, compared to analysts’ expectations of $213.21 million. During the same period in the prior year, the company earned $0.03 EPS. The firm’s revenue 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. As a group, analysts predict that GitLab Inc. will post -0.31 earnings per share for the current year.

Insider Buying and Selling

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 transaction of $5,476,208.00. Following the completion of the sale, the director directly owned 551,997 shares of the company’s stock, valued at approximately $23,360,513.04. This represents a 18.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karen Blasing sold 3,250 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $45.00, for a total transaction of $146,250.00. Following the sale, the director directly owned 103,889 shares of the company’s stock, valued at approximately $4,675,005. This trade represents a 3.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 464,950 shares of company stock valued at $20,025,356. Company insiders own 16.37% of the company’s stock.

Hedge Funds Weigh In On GitLab

A number of institutional investors have recently added to or reduced their stakes in the company. HMI Capital Management L.P. lifted its holdings in GitLab by 32.3% in the 2nd quarter. HMI Capital Management L.P. now owns 5,858,626 shares of the company’s stock worth $264,283,000 after buying an additional 1,430,151 shares in the last quarter. State of Wyoming acquired a new position in GitLab in the 2nd quarter worth $840,000. Nomura Holdings Inc. lifted its holdings in GitLab by 327.0% in the 2nd quarter. Nomura Holdings Inc. now owns 18,193 shares of the company’s stock worth $821,000 after buying an additional 13,932 shares in the last quarter. KP Management LLC lifted its holdings in GitLab by 10.2% in the 2nd quarter. KP Management LLC now owns 16,527 shares of the company’s stock worth $746,000 after buying an additional 1,527 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. lifted its holdings in GitLab by 46.2% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 2,041,331 shares of the company’s stock worth $92,023,000 after buying an additional 644,718 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

About GitLab

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.