Analysts Set GitLab Inc. (NASDAQ:GTLB) Price Target at $39.62

GitLab Inc. (NASDAQ:GTLB) has earned a consensus recommendation of “Hold” from the thirty analysts that are covering the firm, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation, twelve have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $39.6154.

Several equities research analysts have recently weighed in on GTLB shares. Cantor Fitzgerald reiterated a “neutral” rating on shares of GitLab in a report on Wednesday, March 4th. TD Cowen lowered shares of GitLab from a “buy” rating to a “hold” rating and set a $29.00 target price for the company. in a research note on Monday, March 2nd. Canaccord Genuity Group reduced their price target on shares of GitLab from $70.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. DA Davidson set a $24.00 price objective on shares of GitLab in a research report on Thursday, March 5th. Finally, Sanford C. Bernstein dropped their target price on shares of GitLab from $70.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 4th.

GitLab Price Performance

NASDAQ GTLB opened at $20.35 on Friday. GitLab has a 52 week low of $20.20 and a 52 week high of $54.08. The firm has a market capitalization of $3.46 billion, a price-to-earnings ratio of -58.14 and a beta of 0.79. The company has a fifty day moving average of $28.16 and a two-hundred day moving average of $37.83.

GitLab (NASDAQ:GTLB) last announced its earnings results on Tuesday, March 3rd. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $260.40 million for the quarter, compared to the consensus estimate of $252.31 million. During the same quarter in the prior year, the firm posted $0.33 earnings per share. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. Equities research analysts anticipate that GitLab will post -0.31 EPS for the current year.

Insider Buying and Selling at GitLab

In other news, CFO James Shen sold 2,538 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $38.08, for a total transaction of $96,647.04. Following the transaction, the chief financial officer owned 52,284 shares in the company, valued at approximately $1,990,974.72. This trade represents a 4.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sytse Sijbrandij sold 54,300 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $28.41, for a total transaction of $1,542,663.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,271,046 shares of company stock valued at $29,945,143 in the last ninety days. Corporate insiders own 21.36% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GTLB. Allworth Financial LP raised its holdings in shares of GitLab by 124.1% in the 3rd quarter. Allworth Financial LP now owns 558 shares of the company’s stock valued at $25,000 after purchasing an additional 309 shares in the last quarter. Quarry LP bought a new position in shares of GitLab during the third quarter valued at approximately $31,000. Farther Finance Advisors LLC increased its holdings in GitLab by 284.3% during the third quarter. Farther Finance Advisors LLC now owns 907 shares of the company’s stock valued at $41,000 after buying an additional 671 shares during the period. Lodestone Wealth Management LLC purchased a new position in GitLab during the fourth quarter valued at approximately $36,000. Finally, Global Retirement Partners LLC raised its stake in GitLab by 84.1% in the third quarter. Global Retirement Partners LLC now owns 974 shares of the company’s stock worth $44,000 after buying an additional 445 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

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.