GitLab (NASDAQ:GTLB) Price Target Raised to $45.00

GitLab (NASDAQ:GTLB) had its price objective boosted by Bank of America from $38.00 to $45.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a neutral rating on the stock.

A number of other analysts also recently issued reports on the stock. Royal Bank Of Canada lifted their price objective on shares of GitLab from $29.00 to $46.00 and gave the stock a “sector perform” rating in a report on Friday, August 14th. Cantor Fitzgerald increased their target price on GitLab from $27.00 to $35.00 and gave the company a “neutral” rating in a research note on Wednesday, June 3rd. Zacks Research downgraded GitLab from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 3rd. TD Cowen reaffirmed a “hold” rating and set a $29.00 price target on shares of GitLab in a research note on Wednesday, June 3rd. Finally, Raymond James Financial reiterated a “market perform” rating on shares of GitLab in a report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eighteen have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, GitLab presently has a consensus rating of “Hold” and a consensus price target of $38.92.

GitLab Stock Down 1.0%

NASDAQ:GTLB opened at $41.67 on Wednesday. The business’s 50-day moving average price is $33.71 and its two-hundred day moving average price is $28.29. GitLab has a twelve month low of $18.73 and a twelve month high of $52.38. The stock has a market cap of $7.04 billion, a P/E ratio of -260.44 and a beta of 0.94.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings results on Tuesday, June 2nd. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $264.16 million during the quarter, compared to the consensus estimate of $254.23 million. GitLab had a positive return on equity of 0.31% and a negative net margin of 2.49%.The company’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter last year, the company posted $0.17 EPS. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. On average, equities research analysts expect that GitLab will post -0.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other GitLab news, CAO Simon Mundy sold 8,725 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $38.00, for a total value of $331,550.00. Following the sale, the chief accounting officer owned 105,332 shares of the company’s stock, valued at $4,002,616. This trade represents a 7.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sytse Sijbrandij sold 116,200 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $28.44, for a total value of $3,304,728.00. Following the transaction, the director owned 14,902,051 shares in the company, valued at approximately $423,814,330.44. This represents a 0.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.64% of the stock is owned by company insiders.

Institutional Investors Weigh In On GitLab

Several institutional investors and hedge funds have recently modified their holdings of the stock. Huntington National Bank lifted its holdings in GitLab by 118.9% in the fourth quarter. Huntington National Bank now owns 320,660 shares of the company’s stock worth $12,034,000 after buying an additional 174,200 shares during the period. ABN Amro Investment Solutions purchased a new position in shares of GitLab during the 4th quarter worth approximately $2,420,000. Bank of America Corp DE grew its holdings in shares of GitLab by 55.3% during the 1st quarter. Bank of America Corp DE now owns 1,955,648 shares of the company’s stock worth $42,320,000 after acquiring an additional 696,096 shares during the period. California State Teachers Retirement System grew its holdings in shares of GitLab by 21.7% during the 1st quarter. California State Teachers Retirement System now owns 154,699 shares of the company’s stock worth $3,348,000 after acquiring an additional 27,624 shares during the period. Finally, Coronation Fund Managers Ltd. raised its position in shares of GitLab by 18.3% in the 4th quarter. Coronation Fund Managers Ltd. now owns 717,483 shares of the company’s stock worth $26,927,000 after acquiring an additional 110,926 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

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.