GitLab Inc. (NASDAQ:GTLB) Stock Has Consensus Price Target of $51.75

Shares of GitLab Inc. (NASDAQ:GTLB) have received an average recommendation of “Hold” from the twenty-eight research firms that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a sell recommendation, seventeen have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $51.75.

A number of research analysts have recently weighed in on the company. Bank of America lifted their price objective on GitLab from $45.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, September 2nd. Truist Financial restated a “hold” rating and issued a $48.00 price objective (up from $40.00) on shares of GitLab in a research report on Wednesday, September 2nd. Wells Fargo & Company boosted their price objective on GitLab from $40.00 to $50.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 2nd. Canaccord Genuity Group upped their price objective on GitLab from $40.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Finally, Barclays increased their target price on GitLab from $25.00 to $47.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 2nd.

GitLab Stock Performance

Shares of GitLab stock opened at $55.94 on Tuesday. GitLab has a one year low of $18.73 and a one year high of $57.89. The stock’s fifty day moving average is $47.20 and its 200 day moving average is $34.49. The stock has a market cap of $9.32 billion, a P/E ratio of -174.81 and a beta of 0.98.

GitLab (NASDAQ:GTLB) last released its quarterly earnings results on Tuesday, September 1st. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.06. The business had revenue of $286.25 million during the quarter, compared to analyst estimates of $273.13 million. GitLab had a negative return on equity of 1.28% and a negative net margin of 4.99%. GitLab’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.24 earnings per share. GitLab has set its FY 2027 guidance at 0.850-0.870 EPS and its Q3 2027 guidance at 0.190-0.200 EPS. Analysts predict that GitLab will post -0.29 EPS for the current year.

Insider Buying and Selling

In related news, CAO Simon Mundy sold 8,725 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $38.00, for a total value of $331,550.00. Following the transaction, the chief accounting officer directly owned 105,332 shares of the company’s stock, valued at approximately $4,002,616. The trade was a 7.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Sivaprasad Padisetty sold 51,915 shares of the company’s stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $45.78, for a total value of $2,376,668.70. Following the completion of the transaction, the chief technology officer owned 377,211 shares of the company’s stock, valued at $17,268,719.58. The trade was a 12.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 2,176,840 shares of company stock valued at $103,798,494. Corporate insiders own 10.64% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. HighTower Advisors LLC increased its holdings in shares of GitLab by 7.6% in the second quarter. HighTower Advisors LLC now owns 10,291 shares of the company’s stock worth $314,000 after purchasing an additional 727 shares during the last quarter. GAMMA Investing LLC boosted its stake in GitLab by 27.3% during the third quarter. GAMMA Investing LLC now owns 3,524 shares of the company’s stock valued at $167,000 after buying an additional 755 shares during the last quarter. Siren L.L.C. boosted its stake in GitLab by 1.0% during the first quarter. Siren L.L.C. now owns 100,000 shares of the company’s stock valued at $2,164,000 after buying an additional 1,000 shares during the last quarter. Tsfg LLC bought a new position in GitLab during the second quarter valued at approximately $31,000. Finally, Fifth Third Bancorp grew its holdings in GitLab by 220.6% during the 1st quarter. Fifth Third Bancorp now owns 1,603 shares of the company’s stock valued at $35,000 after buying an additional 1,103 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

About GitLab

GitLab Inc (NASDAQ:GTLB) develops a cloud-based DevSecOps platform that helps organizations plan, create, secure and deploy software. Its platform brings together source code management, version control, issue tracking, project planning, continuous integration and continuous delivery, enabling development, operations and security teams to collaborate in a unified environment.

GitLab’s products also include application security testing, vulnerability management, compliance tools, infrastructure as code, software supply chain security and monitoring capabilities.