Zacks Research Downgrades GitLab (NASDAQ:GTLB) to Hold

GitLab (NASDAQ:GTLB) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

A number of other brokerages have also recently weighed in on GTLB. Wolfe Research restated an “outperform” rating and issued a $36.00 price objective on shares of GitLab in a report on Wednesday, June 3rd. Truist Financial upped their price target on GitLab from $25.00 to $30.00 and gave the stock a “hold” rating in a research note on Thursday, July 9th. Royal Bank Of Canada lifted their price objective on shares of GitLab from $25.00 to $29.00 and gave the company a “sector perform” rating in a research report on Wednesday, June 3rd. Bank of America restated a “neutral” rating on shares of GitLab in a research report on Wednesday, June 3rd. Finally, Cantor Fitzgerald increased their price objective on GitLab from $27.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eighteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $36.58.

GitLab Trading Up 2.5%

NASDAQ:GTLB opened at $36.48 on Monday. GitLab has a twelve month low of $18.73 and a twelve month high of $52.38. The company has a market cap of $6.16 billion, a P/E ratio of -228.00 and a beta of 0.94. The company’s 50-day moving average price is $30.93 and its 200-day moving average price is $27.76.

GitLab (NASDAQ:GTLB) last released its quarterly earnings results on Tuesday, June 2nd. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. GitLab had a negative net margin of 2.49% and a positive return on equity of 0.31%. The firm had revenue of $264.16 million for the quarter, compared to analyst estimates of $254.23 million. During the same quarter in the previous year, the company earned $0.17 EPS. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. On average, analysts expect that GitLab will post -0.18 earnings per share for the current year.

Insider Transactions at GitLab

In other GitLab news, Director Sytse Sijbrandij sold 116,200 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $28.44, for a total value of $3,304,728.00. Following the transaction, the director directly owned 14,902,051 shares of the company’s stock, valued at $423,814,330.44. This trade represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.64% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GitLab

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP grew its stake in shares of GitLab by 124.1% during the third quarter. Allworth Financial LP now owns 558 shares of the company’s stock valued at $25,000 after acquiring an additional 309 shares in the last quarter. Main Management ETF Advisors LLC boosted its holdings in GitLab by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 33,669 shares of the company’s stock valued at $1,264,000 after purchasing an additional 344 shares during the last quarter. Utah Retirement Systems boosted its holdings in GitLab by 6.6% in the fourth quarter. Utah Retirement Systems now owns 7,407 shares of the company’s stock valued at $278,000 after purchasing an additional 460 shares during the last quarter. Larson Financial Group LLC grew its stake in GitLab by 92.7% during the 3rd quarter. Larson Financial Group LLC now owns 1,000 shares of the company’s stock valued at $45,000 after purchasing an additional 481 shares in the last quarter. Finally, Quarry LP grew its stake in GitLab by 72.5% during the 4th quarter. Quarry LP now owns 1,202 shares of the company’s stock valued at $45,000 after purchasing an additional 505 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

GitLab Company Profile

GitLab Inc (NASDAQ: GTLB) is a leading provider of a unified DevOps platform designed to streamline the software development lifecycle. Founded in 2011 by Dmitriy Zaporozhets and Sid Sijbrandij, the company initially gained recognition for its open-source Git repository manager. Over time, GitLab expanded its offerings to encompass planning, source code management, continuous integration/continuous deployment (CI/CD), security testing, and monitoring in a single application. This integrated approach enables development teams to collaborate efficiently, reduce toolchain complexity, and accelerate release cycles.

The GitLab platform is offered through both cloud-hosted and self-managed deployment models, catering to organizations of all sizes.