GitLab (NASDAQ:GTLB) Price Target Lowered to $27.00 at Cantor Fitzgerald

GitLab (NASDAQ:GTLB) had its target price lowered by Cantor Fitzgerald from $30.00 to $27.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 16.98% from the stock’s current price.

Several other analysts also recently weighed in on GTLB. TD Cowen downgraded GitLab from a “buy” rating to a “hold” rating and set a $29.00 target price for the company. in a report on Monday, March 2nd. DA Davidson set a $24.00 price target on GitLab in a research note on Thursday, March 5th. Zacks Research lowered GitLab from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Mizuho reduced their price objective on GitLab from $30.00 to $26.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Royal Bank Of Canada lowered shares of GitLab from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $33.00 to $25.00 in a research report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eighteen have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $37.08.

GitLab Price Performance

NASDAQ GTLB opened at $23.08 on Wednesday. The firm’s fifty day moving average price is $22.60 and its 200 day moving average price is $32.50. GitLab has a 12 month low of $18.73 and a 12 month high of $54.08. The company has a market capitalization of $3.93 billion, a price-to-earnings ratio of -65.94 and a beta of 0.82.

GitLab (NASDAQ:GTLB) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.07. GitLab had a negative net margin of 5.86% and a negative return on equity of 1.73%. The firm had revenue of $260.40 million during the quarter, compared to analysts’ expectations of $252.31 million. During the same period in the previous year, the company earned $0.33 earnings per share. GitLab’s quarterly revenue was up 23.2% compared to the same quarter last year. As a group, sell-side analysts forecast that GitLab will post -0.28 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Matthew Jacobson sold 700,109 shares of GitLab stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $22.95, for a total value of $16,067,501.55. Following the transaction, the director directly owned 325 shares in the company, valued at $7,458.75. This trade represents a 99.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sytse Sijbrandij sold 116,200 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $20.77, for a total transaction of $2,413,474.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 1,330,408 shares of company stock worth $30,309,342. Corporate insiders own 10.64% of the company’s stock.

Institutional Trading of GitLab

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in GitLab by 9.2% during the third quarter. Vanguard Group Inc. now owns 15,281,775 shares of the company’s stock worth $688,902,000 after purchasing an additional 1,285,881 shares in the last quarter. Eminence Capital LP boosted its holdings in GitLab by 6.9% in the 4th quarter. Eminence Capital LP now owns 7,702,226 shares of the company’s stock valued at $289,065,000 after purchasing an additional 494,497 shares in the last quarter. Atreides Management LP boosted its holdings in GitLab by 38.9% in the 3rd quarter. Atreides Management LP now owns 5,470,305 shares of the company’s stock valued at $246,601,000 after purchasing an additional 1,532,107 shares in the last quarter. AQR Capital Management LLC increased its position in GitLab by 766.3% during 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 period. Finally, Champlain Investment Partners LLC increased its position in GitLab by 4.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 4,703,281 shares of the company’s stock worth $212,024,000 after purchasing an additional 191,084 shares during the period. Hedge funds and other institutional investors 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.