GitLab’s (GTLB) Hold Rating Reiterated at TD Cowen

GitLab (NASDAQ:GTLB)‘s stock had its “hold” rating reaffirmed by analysts at TD Cowen in a report issued on Wednesday,Benzinga reports. They presently have a $29.00 target price on the stock. TD Cowen’s target price would indicate a potential downside of 4.13% from the company’s current price.

Several other brokerages have also recently issued reports on GTLB. Bank of America restated a “neutral” rating on shares of GitLab in a research report on Wednesday. Truist Financial lowered their target price on GitLab from $35.00 to $25.00 and set a “hold” rating on the stock in a research note on Wednesday, March 4th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $29.00 target price on shares of GitLab in a report on Wednesday. Weiss Ratings restated a “sell (e+)” rating on shares of GitLab in a research note on Tuesday, May 12th. Finally, Raymond James Financial reaffirmed a “market perform” rating on shares of GitLab in a report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eighteen have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, GitLab currently has a consensus rating of “Hold” and an average target price of $38.31.

GitLab Stock Down 4.9%

NASDAQ:GTLB traded down $1.57 during trading hours on Wednesday, reaching $30.25. 7,708,176 shares of the company’s stock were exchanged, compared to its average volume of 6,289,605. GitLab has a 1-year low of $18.73 and a 1-year high of $52.38. The firm has a market capitalization of $5.15 billion, a price-to-earnings ratio of -86.43 and a beta of 0.96. The company has a 50-day moving average of $23.30 and a 200 day moving average of $30.43.

GitLab (NASDAQ:GTLB) last posted its quarterly earnings data on Tuesday, June 2nd. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. GitLab had a negative net margin of 5.86% and a negative return on equity of 1.73%. The company had revenue of $264.16 million for the quarter, compared to analyst estimates of $254.23 million. During the same period in the previous year, the business posted $0.17 earnings per share. GitLab’s quarterly revenue was up 23.2% on a year-over-year basis. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. Research analysts forecast that GitLab will post -0.33 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Matthew Jacobson sold 700,109 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $22.95, for a total value of $16,067,501.55. Following the completion of the sale, the director directly owned 325 shares of the company’s stock, valued at $7,458.75. This trade represents a 99.95% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sytse Sijbrandij sold 116,200 shares of GitLab stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $24.85, for a total value of $2,887,570.00. Following the completion of the sale, the director owned 15,018,251 shares in the company, valued at approximately $373,203,537.35. This trade represents a 0.77% decrease in their ownership of the stock. 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. Over the last three months, insiders have sold 1,392,308 shares of company stock valued at $31,654,249. Company insiders own 10.64% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in GTLB. Bank of America Corp DE increased its stake in GitLab by 55.3% in the 1st quarter. Bank of America Corp DE now owns 1,955,648 shares of the company’s stock valued at $42,320,000 after purchasing an additional 696,096 shares in the last quarter. Bull Harbor Capital LLC purchased a new stake in shares of GitLab in the 1st quarter worth about $468,000. Amundi increased its holdings in GitLab by 66.5% during the 1st quarter. Amundi now owns 97,157 shares of the company’s stock valued at $2,102,000 after acquiring an additional 38,819 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in GitLab by 28.5% during the first quarter. EverSource Wealth Advisors LLC now owns 7,731 shares of the company’s stock worth $167,000 after acquiring an additional 1,713 shares during the last quarter. Finally, California State Teachers Retirement System lifted its holdings in shares of GitLab by 21.7% in the first quarter. California State Teachers Retirement System now owns 154,699 shares of the company’s stock valued at $3,348,000 after purchasing an additional 27,624 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

More GitLab News

Here are the key news stories impacting GitLab this week:

• Positive Sentiment: GitLab beat first-quarter expectations, reporting EPS of $0.23 versus $0.20 expected and revenue of $264.16 million versus $254.23 million expected, with revenue up 23.2% year over year. The company also raised its Q2 FY2027 EPS guidance above consensus, which suggests improving profitability momentum. GitLab Reports First Quarter Fiscal Year 2027 Financial Results
• Positive Sentiment: Several analysts lifted price targets after the earnings beat, including Needham to $38, BTIG to $36, and DA Davidson to $35, reinforcing a more constructive outlook on GTLB. Analyst target updates
• Positive Sentiment: Investor interest also appears elevated ahead of and after earnings, with heavy call-option activity and reports of stock strength tied to the results and GitLab’s AI-focused platform updates.
• Neutral Sentiment: GitLab is reframing the business around AI/“agentic” DevSecOps, including traction for GitLab Duo Agent Platform and an AWS collaboration, which may support the long-term story but is still early in execution. GitLab Inc. (GTLB) Q1 2027 Earnings Call Transcript
• Negative Sentiment: The company announced a 14% global workforce reduction and plans to exit 22 countries, showing that management is still taking significant restructuring actions to improve efficiency, which can raise near-term uncertainty. GitLab announces 14% reduction in global workforce; expects to exit 22 countries

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.