GitLab (NASDAQ:GTLB) Upgraded by Zacks Research to Strong-Buy Rating

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

GTLB has been the subject of several other research reports. Cantor Fitzgerald upped their target price on shares of GitLab from $27.00 to $35.00 and gave the company a “neutral” rating in a report on Wednesday, June 3rd. Rosenblatt Securities reiterated a “buy” rating and set a $43.00 price target on shares of GitLab in a research note on Monday, June 1st. Royal Bank Of Canada increased their price target on shares of GitLab from $25.00 to $29.00 and gave the stock a “sector perform” rating in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. increased their price target on shares of GitLab from $28.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 3rd. Finally, William Blair reiterated an “underperform” rating on shares of GitLab in a research note on Monday, March 23rd. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $36.64.

GitLab Trading Down 5.9%

Shares of GitLab stock opened at $28.51 on Tuesday. The company has a fifty day simple moving average of $24.63 and a 200-day simple moving average of $29.78. GitLab has a 12-month low of $18.73 and a 12-month high of $52.38. The stock has a market cap of $4.85 billion, a price-to-earnings ratio of -178.19 and a beta of 0.96.

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

Insider Buying and Selling at GitLab

In other news, Director Matthew Jacobson sold 459,799 shares of the firm’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $22.37, for a total value 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, Director Sytse Sijbrandij sold 116,200 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $24.85, for a total transaction of $2,887,570.00. Following the completion of the sale, the director owned 15,018,251 shares of the company’s stock, valued at $373,203,537.35. This trade represents a 0.77% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,392,308 shares of company stock valued at $31,654,249 in the last 90 days. Company insiders own 10.64% of the company’s stock.

Institutional Trading of GitLab

Several hedge funds have recently made changes to their positions in GTLB. Huntington National Bank increased its holdings in shares of GitLab by 118.9% in the 4th quarter. Huntington National Bank now owns 320,660 shares of the company’s stock valued at $12,034,000 after purchasing an additional 174,200 shares in the last quarter. ABN Amro Investment Solutions purchased a new position in shares of GitLab in the 4th quarter valued at about $2,420,000. WINTON GROUP Ltd purchased a new position in shares of GitLab in the 3rd quarter valued at about $5,739,000. Light Street Capital Management LLC increased its holdings in shares of GitLab by 79.2% in the 3rd quarter. Light Street Capital Management LLC now owns 850,000 shares of the company’s stock valued at $38,318,000 after purchasing an additional 375,585 shares in the last quarter. Finally, Eminence Capital LP increased its holdings in shares of GitLab by 15.9% in the 3rd quarter. Eminence Capital LP now owns 7,207,729 shares of the company’s stock valued at $324,924,000 after purchasing an additional 989,122 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

About GitLab

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.