GitLab (NASDAQ:GTLB) PT Raised to $64.00 at Royal Bank of Canada

GitLab (NASDAQ:GTLBGet Rating) had its target price hoisted by analysts at Royal Bank of Canada from $60.00 to $64.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 26.83% from the stock’s previous close.

GTLB has been the subject of a number of other reports. The Goldman Sachs Group reduced their price target on shares of GitLab from $86.00 to $69.00 and set a “neutral” rating for the company in a research report on Thursday. Truist Financial reduced their price target on shares of GitLab from $175.00 to $105.00 and set a “buy” rating for the company in a research report on Tuesday, March 15th. Bank of America reduced their price target on shares of GitLab from $125.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday, March 9th. Piper Sandler upgraded shares of GitLab from a “neutral” rating to an “overweight” rating and set a $100.00 price objective on the stock in a research note on Thursday, January 6th. Finally, JPMorgan Chase & Co. upgraded shares of GitLab from a “neutral” rating to an “overweight” rating and set a $99.00 price objective on the stock in a research note on Thursday, January 27th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $96.11.

Shares of GitLab stock opened at $50.46 on Monday. The firm has a fifty day moving average of $54.77. GitLab has a 12-month low of $30.74 and a 12-month high of $137.00.

GitLab (NASDAQ:GTLBGet Rating) last announced its quarterly earnings results on Monday, March 14th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.09. Sell-side analysts expect that GitLab will post -1.34 earnings per share for the current year.

Several institutional investors have recently modified their holdings of GTLB. Caliber Wealth Management LLC acquired a new position in shares of GitLab during the fourth quarter worth about $722,000. Tybourne Capital Management HK Ltd. acquired a new position in shares of GitLab during the fourth quarter worth about $27,267,000. ARK Investment Management LLC acquired a new position in shares of GitLab during the fourth quarter worth about $199,000. Founders Circle Capital LLC acquired a new position in shares of GitLab during the fourth quarter worth about $50,858,000. Finally, Renaissance Capital LLC acquired a new position in shares of GitLab during the fourth quarter worth about $370,000. Institutional investors and hedge funds own 7.55% of the company’s stock.

About GitLab (Get Rating)

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.

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