GitLab (NASDAQ:GTLB) Stock Price Expected to Rise, Mizuho Analyst Says

GitLab (NASDAQ:GTLB) had its price objective increased by research analysts at Mizuho from $47.00 to $51.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Mizuho‘s target price would suggest a potential upside of 7.78% from the stock’s previous close.

Several other equities analysts have also recently issued reports on GTLB. BTIG Research boosted their price target on GitLab from $52.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Morgan Stanley lifted their target price on GitLab from $30.00 to $57.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 2nd. Barclays lifted their target price on GitLab from $25.00 to $47.00 and gave the company an “underweight” rating in a research note on Wednesday, September 2nd. Wells Fargo & Company boosted their target price on GitLab from $40.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, September 2nd. Finally, Robert W. Baird upped their price target on GitLab from $47.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 2nd. Seven investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $52.50.

GitLab Stock Performance

Shares of GitLab stock opened at $47.32 on Thursday. GitLab has a 1 year low of $18.73 and a 1 year high of $58.01. The company has a market capitalization of $7.88 billion, a P/E ratio of -147.87 and a beta of 0.96. The company’s fifty day moving average is $51.03 and its two-hundred day moving average is $34.74.

GitLab (NASDAQ:GTLB) last announced its earnings results on Tuesday, September 1st. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. GitLab had a negative net margin of 4.99% and a negative return on equity of 1.28%. The business had revenue of $286.25 million during the quarter, compared to analysts’ expectations of $273.13 million. During the same period in the prior year, the company earned $0.24 earnings per share. The business’s revenue was up 21.3% compared to the same quarter last year. GitLab has set its FY 2027 guidance at 0.850-0.870 EPS and its Q3 2027 guidance at 0.190-0.200 EPS. As a group, equities analysts expect that GitLab will post -0.29 earnings per share for the current year.

Insider Buying and Selling at GitLab

In related news, Director Sytse Sijbrandij sold 980,710 shares of the stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $48.63, for a total transaction of $47,691,927.30. Following the transaction, the director directly owned 13,921,341 shares in the company, valued at approximately $676,994,812.83. This represents a 6.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Sivaprasad Padisetty sold 51,915 shares of the firm’s stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $45.78, for a total value of $2,376,668.70. Following the completion of the sale, the chief technology officer directly owned 377,211 shares in the company, valued at approximately $17,268,719.58. The trade was a 12.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 2,284,315 shares of company stock valued at $109,656,918 over the last quarter. Insiders own 10.64% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of GTLB. State Street Corp boosted its position in shares of GitLab by 4.4% in the third quarter. State Street Corp now owns 2,746,936 shares of the company’s stock worth $129,793,000 after acquiring an additional 114,763 shares during the last quarter. Atreides Management LP purchased a new position in GitLab during the second quarter worth approximately $102,983,000. Pictet Asset Management Holding SA lifted its holdings in shares of GitLab by 38.1% during the 3rd quarter. Pictet Asset Management Holding SA now owns 1,969,472 shares of the company’s stock valued at $93,058,000 after acquiring an additional 543,451 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in GitLab by 363.4% during 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 worth $60,680,000 after purchasing an additional 1,558,625 shares during the period. Finally, Bank of America Corp DE boosted its position in GitLab by 1.6% during the 2nd quarter. Bank of America Corp DE now owns 1,987,140 shares of the company’s stock worth $60,667,000 after purchasing an additional 31,492 shares during the period. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

About GitLab

GitLab Inc. develops a software platform that helps organizations manage the software development lifecycle. Its tools support planning, source-code management, collaboration, continuous integration and delivery, security testing, and application monitoring. The GitLab platform brings these capabilities together in a single application, available as a cloud-hosted service or for customers to install and manage in their own environments. The company serves organizations in a range of industries and geographies, from individual developers to large enterprises.