GitLab (NASDAQ:GTLB) Stock Rating Upgraded by Zacks Research

GitLab (NASDAQ:GTLB) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Several other research firms have also commented on GTLB. Bank of America reiterated a “neutral” rating on shares of GitLab in a research report on Wednesday, June 3rd. Cantor Fitzgerald increased their price target on shares of GitLab from $27.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. increased their price target on shares of GitLab from $28.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, June 3rd. Canaccord Genuity Group lowered their price target on shares of GitLab from $70.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. Finally, William Blair reiterated an “underperform” rating on shares of GitLab in a research report on Monday, March 23rd. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eighteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, GitLab has a consensus rating of “Hold” and a consensus target price of $36.64.

GitLab Price Performance

GTLB stock opened at $28.51 on Tuesday. The company’s 50 day simple moving average is $24.63 and its 200-day simple moving average is $29.78. The firm has a market capitalization of $4.85 billion, a PE ratio of -178.19 and a beta of 0.96. GitLab has a 12 month low of $18.73 and a 12 month high of $52.38.

GitLab (NASDAQ:GTLB) last released its quarterly earnings results on Tuesday, June 2nd. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. The business had revenue of $264.16 million for the quarter, compared to analyst estimates of $254.23 million. GitLab had a negative net margin of 2.49% and a positive return on equity of 0.31%. The company’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.17 earnings per share. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. As a group, sell-side analysts anticipate that GitLab will post -0.18 earnings per share for the current year.

Insider Buying and Selling

In other GitLab news, Director Matthew Jacobson sold 459,799 shares of GitLab stock in a transaction on Friday, March 20th. The shares were sold at an average price of $22.37, for a total value of $10,285,703.63. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sytse Sijbrandij sold 116,200 shares of GitLab stock in a transaction on 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 owned 15,018,251 shares in the company, 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 90 days, insiders have sold 1,392,308 shares of company stock worth $31,654,249. 10.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On GitLab

Hedge funds have recently made changes to their positions in the stock. Allworth Financial LP boosted its holdings in shares of GitLab by 124.1% in the 3rd quarter. Allworth Financial LP now owns 558 shares of the company’s stock valued at $25,000 after purchasing an additional 309 shares during the last quarter. Quarry LP acquired a new position in shares of GitLab in the 3rd quarter valued at $31,000. Lodestone Wealth Management LLC acquired a new position in shares of GitLab in the 4th quarter valued at $36,000. Larson Financial Group LLC boosted its holdings in shares of GitLab by 92.7% in the 3rd quarter. Larson Financial Group LLC now owns 1,000 shares of the company’s stock valued at $45,000 after purchasing an additional 481 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of GitLab in the 3rd quarter valued at $48,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

GitLab Company Profile

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.