GitLab Inc. (NASDAQ:GTLB) Receives $96.44 Consensus Target Price from Brokerages

GitLab Inc. (NASDAQ:GTLBGet Rating) has been given an average recommendation of “Buy” by the eleven brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $96.44.

A number of research firms have issued reports on GTLB. JPMorgan Chase & Co. raised GitLab from a “neutral” rating to an “overweight” rating and set a $99.00 target price for the company in a research note on Thursday, January 27th. Bank of America lowered their target price on GitLab from $125.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, March 9th. KeyCorp raised their price objective on shares of GitLab from $50.00 to $63.00 and gave the stock an “overweight” rating in a report on Monday, April 25th. The Goldman Sachs Group reduced their target price on shares of GitLab from $86.00 to $69.00 and set a “neutral” rating for the company in a research note on Thursday, April 14th. Finally, Royal Bank of Canada lifted their price target on GitLab from $60.00 to $64.00 and gave the company an “outperform” rating in a research note on Monday, April 18th.

GitLab stock opened at $40.07 on Friday. The business has a 50-day moving average of $48.19 and a 200-day moving average of $66.08. GitLab has a 1 year low of $30.74 and a 1 year high of $137.00.

GitLab (NASDAQ:GTLBGet Rating) last announced its quarterly earnings results on Monday, March 14th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.07. The firm had revenue of $77.80 million for the quarter, compared to the consensus estimate of $70.18 million. Equities analysts forecast that GitLab will post -1.34 EPS for the current year.

In related news, major shareholder 2021 Gp L.L.C. Gv purchased 13,528 shares of GitLab stock in a transaction that occurred on Tuesday, May 24th. The stock was purchased at an average cost of $33.72 per share, with a total value of $456,164.16. Following the completion of the transaction, the insider now owns 593,402 shares of the company’s stock, valued at approximately $20,009,515.44. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Several institutional investors have recently bought and sold shares of the company. WINTON GROUP Ltd bought a new stake in GitLab in the 4th quarter valued at $326,000. Caliber Wealth Management LLC acquired a new stake in GitLab in the 4th quarter worth about $722,000. Primecap Management Co. CA bought a new stake in GitLab in the 4th quarter valued at about $20,027,000. Oribel Capital Management LP acquired a new position in shares of GitLab during the 4th quarter worth approximately $1,079,000. Finally, CIBC Asset Management Inc bought a new position in shares of GitLab during the fourth quarter worth approximately $529,000. 21.30% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for GitLab (NASDAQ:GTLB)

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