GitLab (NASDAQ:GTLB) Price Target Raised to $32.00

GitLab (NASDAQ:GTLB) had its price target lifted by investment analysts at JPMorgan Chase & Co. from $28.00 to $32.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 4.54% from the stock’s previous close.

A number of other brokerages have also weighed in on GTLB. Bank of America restated a “neutral” rating on shares of GitLab in a research note on Wednesday. Guggenheim restated a “neutral” rating on shares of GitLab in a research note on Wednesday. DA Davidson raised their price objective on GitLab from $24.00 to $35.00 and gave the company a “neutral” rating in a research note on Wednesday. Raymond James Financial restated a “market perform” rating on shares of GitLab in a research note on Tuesday, May 19th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of GitLab in a research note on Tuesday, May 12th. One 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 issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $37.81.

GitLab Trading Down 3.8%

NASDAQ GTLB traded down $1.21 during mid-day trading on Wednesday, reaching $30.61. 10,965,821 shares of the company’s stock traded hands, compared to its average volume of 6,342,417. GitLab has a 1-year low of $18.73 and a 1-year high of $52.38. The company has a fifty day simple moving average of $23.30 and a 200-day simple moving average of $30.43. The company has a market cap of $5.21 billion, a price-to-earnings ratio of -87.46 and a beta of 0.96.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings data on Tuesday, June 2nd. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. GitLab had a negative return on equity of 1.73% and a negative net margin of 5.86%.The firm had revenue of $264.16 million during the quarter, compared to analyst estimates of $254.23 million. During the same quarter last year, the firm earned $0.17 EPS. 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. Equities research analysts forecast that GitLab will post -0.33 earnings per share for the current fiscal year.

Insider Activity at GitLab

In other news, Director Matthew Jacobson sold 700,109 shares of GitLab 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 transaction, the director owned 325 shares in the company, valued at approximately $7,458.75. This trade represents a 99.95% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sytse Sijbrandij sold 116,200 shares of GitLab stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $24.85, for a total value of $2,887,570.00. Following the completion of the transaction, the director owned 15,018,251 shares of the company’s stock, valued at approximately $373,203,537.35. The trade was a 0.77% 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 quarter, insiders sold 1,392,308 shares of company stock valued at $31,654,249. Insiders own 10.64% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in shares of GitLab by 766.3% in the 4th quarter. AQR Capital Management LLC now owns 5,433,375 shares of the company’s stock worth $203,915,000 after purchasing an additional 4,806,163 shares during the last quarter. Atreides Management LP lifted its holdings in shares of GitLab by 867.3% in the 2nd quarter. Atreides Management LP now owns 3,938,198 shares of the company’s stock worth $177,652,000 after purchasing an additional 3,531,070 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of GitLab by 6,528.0% in the 1st quarter. SG Americas Securities LLC now owns 3,135,394 shares of the company’s stock worth $67,850,000 after purchasing an additional 3,088,089 shares during the last quarter. Norges Bank bought a new stake in shares of GitLab in the 4th quarter worth approximately $81,379,000. Finally, Technology Crossover Management X Ltd. lifted its holdings in shares of GitLab by 491.4% in the 4th quarter. Technology Crossover Management X Ltd. now owns 1,922,114 shares of the company’s stock worth $72,137,000 after purchasing an additional 1,597,114 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Trending Headlines about GitLab

Here are the key news stories impacting GitLab this week:

• Positive Sentiment: GitLab beat expectations with Q1 EPS of $0.23 versus $0.20 expected and revenue of $264.2 million versus $254.2 million expected, with sales up 23.2% year over year; that kind of top- and bottom-line outperformance is helping support the stock. GitLab Reports First Quarter Fiscal Year 2027 Financial Results
• Positive Sentiment: The company lifted Q2 fiscal 2027 guidance to EPS of $0.17-$0.18 and revenue of $272 million-$274 million, both at or above analyst expectations, which suggests management sees continued demand strength.
• Positive Sentiment: Several analysts turned more constructive after earnings, including BTIG and Needham raising price targets and Rosenblatt reiterating a buy rating, which reinforces the view that the earnings report improved the outlook.
• Neutral Sentiment: TD Cowen reaffirmed its hold rating with a $29 price target, implying only modest downside versus recent trading levels and signaling that not all analysts see immediate upside from here.
• Negative Sentiment: GitLab announced it will cut about 14% of its workforce, or roughly 350 employees, and exit 22 countries as part of a restructuring tied to its AI-focused strategy; while this may improve efficiency, layoffs and international exits can raise concern about transition costs and execution risk. GitLab cuts 14% of staff as it scales its platform to serve AI workloads

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.