GitLab Inc. (NASDAQ:GTLB) Stock Has Consensus Target Price of $51.75 According to Brokerages

GitLab Inc. (NASDAQ:GTLB) has earned an average rating of “Hold” from the twenty-eight brokerages that are presently covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a sell recommendation, seventeen have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $51.75.

A number of brokerages have recently issued reports on GTLB. BTIG Research upped their target price on shares of GitLab from $52.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Barclays lifted their price target on GitLab from $25.00 to $47.00 and gave the stock an “underweight” rating in a report on Wednesday, September 2nd. Wells Fargo & Company boosted their price target on GitLab from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 2nd. Cantor Fitzgerald boosted their price target on GitLab from $35.00 to $50.00 and gave the stock a “neutral” rating in a research report on Monday, August 31st. Finally, Truist Financial restated a “hold” rating and issued a $48.00 price objective (up from $40.00) on shares of GitLab in a research note on Wednesday, September 2nd.

Insider Transactions at GitLab

In other news, Director Sytse Sijbrandij sold 980,710 shares of the stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $48.63, for a total value of $47,691,927.30. Following the transaction, the director directly owned 13,921,341 shares of the company’s stock, valued at $676,994,812.83. This represents a 6.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Sivaprasad Padisetty sold 51,915 shares of the firm’s stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $45.78, for a total transaction of $2,376,668.70. Following the sale, the chief technology officer owned 377,211 shares of the company’s stock, valued at approximately $17,268,719.58. This represents a 12.10% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 2,176,840 shares of company stock worth $103,798,494. 10.64% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GTLB. Tsfg LLC acquired a new position in GitLab in the 2nd quarter valued at $31,000. Fifth Third Bancorp increased its position in GitLab by 220.6% during the 1st quarter. Fifth Third Bancorp now owns 1,603 shares of the company’s stock worth $35,000 after buying an additional 1,103 shares during the period. Versant Capital Management Inc increased its position in GitLab by 300.6% during the 2nd quarter. Versant Capital Management Inc now owns 1,867 shares of the company’s stock worth $57,000 after buying an additional 1,401 shares during the period. Summit Securities Group LLC increased its position in GitLab by 409.9% during the 1st quarter. Summit Securities Group LLC now owns 3,000 shares of the company’s stock worth $65,000 after buying an additional 3,968 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of GitLab by 60.4% during the second quarter. GAMMA Investing LLC now owns 2,769 shares of the company’s stock worth $85,000 after buying an additional 1,043 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

GitLab Stock Performance

NASDAQ GTLB opened at $53.29 on Tuesday. GitLab has a 52 week low of $18.73 and a 52 week high of $57.89. The stock’s 50 day moving average price is $47.73 and its two-hundred day moving average price is $34.93.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings results on Tuesday, September 1st. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.18 by $0.06. GitLab had a negative return on equity of 1.28% and a negative net margin of 4.99%. The firm had revenue of $286.25 million during the quarter, compared to analysts’ expectations of $273.13 million. During the same period in the prior year, the firm posted $0.24 earnings per share. The business’s quarterly revenue was up 21.3% compared to the same quarter last year. GitLab has set its FY 2027 guidance at 0.850-0.870 EPS and its Q3 2027 guidance at 0.190-0.200 EPS. Analysts anticipate that GitLab will post -0.29 earnings per share for the current year.

About GitLab

GitLab Inc develops an integrated DevSecOps platform that helps organizations plan, create, secure, deploy and monitor software. Its platform brings source code management, project planning, continuous integration and continuous delivery, application security, compliance, and observability capabilities into a single application.

GitLab’s products are designed to support software development teams throughout the application lifecycle. Key offerings include repositories and collaboration tools, automated testing and deployment, vulnerability management, security testing, infrastructure and portfolio management, and artificial intelligence features intended to assist developers and other technology professionals.

Founded in 2011 by Dmitriy Zaporozhets and Sid Sijbrandij, GitLab operates as an all-remote company and serves organizations globally across a range of industries and sizes.