GitLab (NASDAQ:GTLB) Upgraded at Zacks Research

Zacks Research upgraded shares of GitLab (NASDAQ:GTLB) from a hold rating to a strong-buy rating in a research report report published on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $60.00 target price on shares of GitLab in a report on Thursday, September 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $58.00 price target on shares of GitLab in a report on Thursday, September 4th. UBS Group dropped their price target on GitLab from $73.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, September 4th. Mizuho cut GitLab from an “outperform” rating to a “neutral” rating and set a $52.00 price target for the company. in a report on Tuesday. Finally, DA Davidson dropped their price target on GitLab from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Thursday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.83.

GitLab Trading Down 4.8%

Shares of GTLB opened at $44.61 on Wednesday. GitLab has a 1 year low of $37.90 and a 1 year high of $74.18. The stock has a 50 day simple moving average of $46.08 and a 200-day simple moving average of $45.82. The stock has a market cap of $7.44 billion, a PE ratio of -1,115.25 and a beta of 0.73.

GitLab (NASDAQ:GTLB) last issued its earnings results on Wednesday, September 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.19). GitLab had a negative return on equity of 2.71% and a negative net margin of 0.55%.The company had revenue of $236.00 million during the quarter, compared to analyst estimates of $227.20 million. During the same period in the previous year, the company posted $0.15 earnings per share. The company’s quarterly revenue was up 29.2% on a year-over-year basis. GitLab has set its FY 2026 guidance at 0.820-0.830 EPS. Q3 2026 guidance at 0.190-0.200 EPS. On average, sell-side analysts forecast that GitLab will post -0.31 EPS for the current fiscal year.

Insider Transactions at GitLab

In related news, Director Karen Blasing sold 3,250 shares of GitLab stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $50.08, for a total value of $162,760.00. Following the sale, the director owned 100,639 shares of the company’s stock, valued at approximately $5,040,001.12. The trade was a 3.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sytse Sijbrandij sold 108,600 shares of GitLab stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $50.14, for a total value of $5,445,204.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,224,362 shares of company stock valued at $59,723,796. 16.37% of the stock is currently owned by company insiders.

Institutional Trading of GitLab

Hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its position in shares of GitLab by 9,968.3% in the first quarter. GAMMA Investing LLC now owns 43,193 shares of the company’s stock valued at $2,030,000 after acquiring an additional 42,764 shares during the last quarter. Park Avenue Securities LLC increased its position in shares of GitLab by 5.3% in the first quarter. Park Avenue Securities LLC now owns 7,601 shares of the company’s stock valued at $357,000 after acquiring an additional 381 shares during the last quarter. Focus Partners Wealth increased its position in shares of GitLab by 42.5% in the first quarter. Focus Partners Wealth now owns 252,586 shares of the company’s stock valued at $11,871,000 after acquiring an additional 75,331 shares during the last quarter. Wealthcare Advisory Partners LLC increased its position in shares of GitLab by 19.3% in the first quarter. Wealthcare Advisory Partners LLC now owns 6,578 shares of the company’s stock valued at $309,000 after acquiring an additional 1,065 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of GitLab in the first quarter valued at about $200,000. 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.