GitLab (NASDAQ:GTLB) Given Underperform Rating at William Blair

William Blair reaffirmed their underperform rating on shares of GitLab (NASDAQ:GTLB) in a research note issued to investors on Monday morning, MarketBeat.com reports.

Other research analysts also recently issued reports about the company. Wells Fargo & Company reduced their price objective on GitLab from $45.00 to $26.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 4th. Rosenblatt Securities lowered their price target on shares of GitLab from $55.00 to $43.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. Needham & Company LLC dropped their price objective on shares of GitLab from $50.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Morgan Stanley cut their price objective on shares of GitLab from $38.00 to $29.00 and set a “cautious” rating for the company in a report on Monday, March 9th. Finally, BTIG Research decreased their target price on shares of GitLab from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $39.62.

GitLab Stock Performance

NASDAQ:GTLB opened at $22.27 on Monday. The stock has a market capitalization of $3.75 billion, a PE ratio of -63.63 and a beta of 0.79. GitLab has a fifty-two week low of $21.77 and a fifty-two week high of $54.08. The company has a fifty day moving average of $29.32 and a two-hundred day moving average of $38.59.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.07. GitLab had a negative net margin of 5.86% and a negative return on equity of 1.73%. The firm had revenue of $260.40 million for the quarter, compared to analyst estimates of $252.31 million. During the same period last year, the company posted $0.33 EPS. GitLab’s quarterly revenue was up 23.2% compared to the same quarter last year. Research analysts forecast that GitLab will post -0.31 earnings per share for the current year.

Insider Activity

In other GitLab news, Director Matthew Jacobson sold 459,799 shares of the firm’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $22.37, for a total transaction of $10,285,703.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James Shen sold 2,538 shares of GitLab stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $38.08, for a total value of $96,647.04. Following the completion of the sale, the chief financial officer owned 52,284 shares in the company, valued at $1,990,974.72. This represents a 4.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,271,046 shares of company stock valued at $29,945,143 in the last 90 days. Company insiders own 21.36% of the company’s stock.

Institutional Trading of GitLab

A number of hedge funds and other institutional investors have recently modified their holdings of GTLB. Rockefeller Capital Management L.P. raised its stake in shares of GitLab by 12.7% in the 4th quarter. Rockefeller Capital Management L.P. now owns 23,824 shares of the company’s stock valued at $894,000 after acquiring an additional 2,676 shares during the period. Alpine Global Management LLC acquired a new position in shares of GitLab in the 4th quarter worth approximately $338,000. Pacer Advisors Inc. purchased a new stake in GitLab in the fourth quarter valued at approximately $14,788,000. Kera Capital Partners Inc. purchased a new stake in GitLab in the fourth quarter valued at approximately $224,000. Finally, Invesco Ltd. lifted its stake in GitLab by 16.0% during the fourth quarter. Invesco Ltd. now owns 167,136 shares of the company’s stock worth $6,273,000 after purchasing an additional 23,035 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

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.