GitLab Inc. (NASDAQ:GTLB) Given Average Rating of “Hold” by Brokerages

Shares of GitLab Inc. (NASDAQ:GTLB) have been assigned an average recommendation of “Hold” from the thirty analysts that are covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $39.6154.

GTLB has been the topic of a number of research reports. William Blair reissued an “underperform” rating on shares of GitLab in a report on Monday. Sanford C. Bernstein decreased their target price on GitLab from $70.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, March 4th. Wolfe Research reiterated an “outperform” rating and issued a $50.00 target price on shares of GitLab in a research report on Wednesday, December 3rd. BTIG Research cut their price target on shares of GitLab from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Finally, Piper Sandler lowered shares of GitLab from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $55.00 to $28.00 in a research report on Wednesday, March 4th.

Insider Transactions at GitLab

In related news, CFO James Shen sold 2,538 shares of the business’s stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $38.08, for a total transaction of $96,647.04. Following the completion of the transaction, the chief financial officer directly owned 52,284 shares in the company, valued at $1,990,974.72. The trade was a 4.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Matthew Jacobson sold 459,799 shares of the company’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $22.37, for a total transaction of $10,285,703.63. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,271,046 shares of company stock worth $29,945,143 over the last 90 days. 16.37% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GitLab

Institutional investors and hedge funds have recently modified their holdings of the stock. Rockefeller Capital Management L.P. boosted its stake in shares of GitLab by 12.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 23,824 shares of the company’s stock worth $894,000 after buying an additional 2,676 shares during the last quarter. Alpine Global Management LLC acquired a new stake in GitLab during the fourth quarter worth about $338,000. Pacer Advisors Inc. purchased a new position in GitLab during the fourth quarter valued at approximately $14,788,000. Kera Capital Partners Inc. purchased a new position in GitLab during the fourth quarter valued at approximately $224,000. Finally, Invesco Ltd. lifted its holdings in GitLab by 16.0% in the fourth quarter. Invesco Ltd. now owns 167,136 shares of the company’s stock valued at $6,273,000 after acquiring an additional 23,035 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

GitLab Trading Up 2.8%

NASDAQ:GTLB opened at $21.25 on Friday. GitLab has a 12 month low of $20.26 and a 12 month high of $54.08. The firm has a fifty day simple moving average of $28.44 and a 200-day simple moving average of $38.17. The company has a market capitalization of $3.58 billion, a P/E ratio of -60.71 and a beta of 0.79.

GitLab (NASDAQ:GTLB) last released its earnings results on Tuesday, March 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.07. The firm had revenue of $260.40 million for the quarter, compared to the consensus estimate of $252.31 million. GitLab had a negative return on equity of 1.73% and a negative net margin of 5.86%.The firm’s revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 EPS. Equities analysts forecast that GitLab will post -0.31 EPS for the current year.

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.