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

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

Several analysts recently issued reports on the stock. Morgan Stanley increased their price objective on shares of GitLab from $30.00 to $57.00 and gave the company an “equal weight” rating in a report on Wednesday, September 2nd. Mizuho lifted their price objective on GitLab from $34.00 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 2nd. Truist Financial restated a “hold” rating and issued a $48.00 target price (up from $40.00) on shares of GitLab in a report on Wednesday, September 2nd. Guggenheim reiterated a “neutral” rating on shares of GitLab in a report on Wednesday, September 2nd. Finally, TD Cowen boosted their price target on shares of GitLab from $29.00 to $42.00 and gave the company a “hold” rating in a research report on Thursday, August 27th.

GitLab Price Performance

NASDAQ GTLB opened at $48.62 on Friday. The company has a market cap of $8.10 billion, a PE ratio of -151.93 and a beta of 0.99. The stock’s 50 day simple moving average is $41.94 and its 200-day simple moving average is $31.44. GitLab has a 1-year low of $18.73 and a 1-year high of $55.55.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings results on Tuesday, September 1st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.18 by $0.06. The firm had revenue of $286.25 million during the quarter, compared to analysts’ expectations of $273.13 million. GitLab had a negative return on equity of 1.28% and a negative net margin of 4.99%.The firm’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 earnings per share. GitLab has set its FY 2027 guidance at 0.850-0.870 EPS and its Q3 2027 guidance at 0.190-0.200 EPS. On average, equities research analysts anticipate that GitLab will post -0.28 EPS for the current fiscal year.

Insider Activity

In other news, CAO Simon Mundy sold 8,725 shares of GitLab stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $38.00, for a total transaction of $331,550.00. Following the sale, the chief accounting officer owned 105,332 shares of the company’s stock, valued at approximately $4,002,616. The trade was a 7.65% decrease in their position. The transaction was disclosed in a filing 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. 10.64% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Atreides Management LP purchased a new stake in GitLab in the second quarter valued at approximately $102,983,000. SG Americas Securities LLC grew its stake in shares of GitLab by 6,528.0% in the first quarter. SG Americas Securities LLC now owns 3,135,394 shares of the company’s stock valued at $67,850,000 after buying an additional 3,088,089 shares in the last quarter. Norges Bank purchased a new stake in shares of GitLab in the 4th quarter valued at $81,379,000. Technology Crossover Management X Ltd. boosted its holdings in GitLab by 491.4% during the 4th quarter. Technology Crossover Management X Ltd. now owns 1,922,114 shares of the company’s stock valued at $72,137,000 after acquiring an additional 1,597,114 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in GitLab by 363.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,987,553 shares of the company’s stock valued at $60,680,000 after acquiring an additional 1,558,625 shares in the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

About GitLab

GitLab Inc (NASDAQ:GTLB) develops a software development and collaboration platform designed to help organizations plan, create, secure and deploy applications. Its platform brings together source code management, project planning, code review, continuous integration and continuous delivery (CI/CD), application security, compliance and monitoring capabilities in a unified DevSecOps environment.

GitLab serves businesses, government organizations and educational institutions across a range of industries and geographies.