GitLab (NASDAQ:GTLB) Issues Earnings Results

GitLab (NASDAQ:GTLB) issued its quarterly earnings data on Tuesday. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03, FiscalAI reports. GitLab had a negative net margin of 5.86% and a negative return on equity of 1.73%. The firm had revenue of $264.16 million for the quarter, compared to analysts’ expectations of $254.23 million.

GitLab Trading Down 5.8%

Shares of GTLB traded down $1.95 during midday trading on Tuesday, reaching $31.84. The stock had a trading volume of 11,319,285 shares, compared to its average volume of 5,049,984. The firm has a 50 day simple moving average of $23.30 and a 200-day simple moving average of $30.43. GitLab has a one year low of $18.73 and a one year high of $52.38. The firm has a market cap of $5.42 billion, a PE ratio of -96.54 and a beta of 0.96.

Insider Transactions at GitLab

In other news, Director Matthew Jacobson sold 700,109 shares of GitLab stock in a transaction dated 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 completion of the transaction, the director owned 325 shares of the company’s stock, valued at $7,458.75. This trade represents a 99.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sytse Sijbrandij sold 116,200 shares of GitLab stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $24.85, for a total transaction of $2,887,570.00. Following the completion of the transaction, the director directly owned 15,018,251 shares of the company’s stock, valued at approximately $373,203,537.35. This trade represents a 0.77% decrease in their position. 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. In the last three months, insiders sold 1,392,308 shares of company stock valued at $31,654,249. Insiders own 10.64% of the company’s stock.

Institutional Trading of GitLab

Hedge funds have recently modified their holdings of the stock. Allworth Financial LP lifted its stake in shares of GitLab by 124.1% during the 3rd quarter. Allworth Financial LP now owns 558 shares of the company’s stock worth $25,000 after buying an additional 309 shares during the last quarter. Quarry LP acquired a new stake in shares of GitLab during the 3rd quarter worth about $31,000. Larson Financial Group LLC lifted its stake in shares of GitLab by 92.7% during the 3rd quarter. Larson Financial Group LLC now owns 1,000 shares of the company’s stock worth $45,000 after buying an additional 481 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of GitLab during the 3rd quarter worth about $48,000. Finally, Danske Bank A S acquired a new stake in shares of GitLab during the 3rd quarter worth about $77,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Canaccord Genuity Group cut their price objective on shares of GitLab from $70.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. William Blair restated an “underperform” rating on shares of GitLab in a report on Monday, March 23rd. Morgan Stanley cut their price objective on shares of GitLab from $38.00 to $29.00 and set a “cautious” rating on the stock in a report on Monday, March 9th. Weiss Ratings restated a “sell (e+)” rating on shares of GitLab in a report on Tuesday, May 12th. Finally, UBS Group lowered shares of GitLab from a “buy” rating to a “neutral” rating and cut their price objective for the company from $44.00 to $24.00 in a report on Thursday, April 16th. One investment 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 given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $37.08.

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.