In yesterday’s Wall Street session, GitLab Inc. (NASDAQ:GTLB) shares traded at $32.99, down -3.45% from the previous session.
18 analysts cover GitLab Inc. (NASDAQ:GTLB), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $65.00 and a low of $30.00, we find $45.00. Given the previous closing price of $34.17, this indicates a potential upside of 31.69 percent. GTLB stock price is now 1.26% away from the 50-day moving average and -26.45% away from the 200-day moving average. The market capitalization of the company currently stands at $5.03B.
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The stock has received a hold rating from 4 analysts and a buy rating from 13. Brokers who have rated the stock have averaged $44.67 as their price target over the next twelve months.
In other news, GV 2021 GP, L.L.C., Member of 10% Group bought 7,286 shares of the company’s stock on May 05. The stock was bought for $196,584 at an average price of $26.98. Upon completion of the transaction, the Member of 10% Group now directly owns 2,647,312 shares in the company, valued at $87.33 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 05, Principal Accounting Officer Brown Dale R sold 894 shares of the business’s stock. A total of $24,183 was realized by selling the stock at an average price of $27.05. This leaves the insider owning 15,884 shares of the company worth $0.52 million. Insiders disposed of 18,994,382 shares of company stock worth roughly $626.62 million over the past 1 year. A total of 1.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in GTLB stock. A new stake in GitLab Inc. shares was purchased by SCGE MANAGEMENT, L.P. during the first quarter worth $28,751,000. ALYESKA INVESTMENT GROUP, L.P. invested $22,728,000 in shares of GTLB during the first quarter. In the first quarter, THINK INVESTMENTS LP acquired a new stake in GitLab Inc. valued at approximately $19,161,000. FRED ALGER MANAGEMENT, LLC acquired a new stake in GTLB for approximately $16,863,000. MARSHALL WACE, LLP purchased a new stake in GTLB valued at around $9,894,000 in the second quarter. In total, there are 305 active investors with 84.70% ownership of the company’s stock.
On Thursday morning GitLab Inc. (NASDAQ: GTLB) stock kicked off with the opening price of $34.62. During the past 12 months, GitLab Inc. has had a low of $26.24 and a high of $70.96. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 3.60, and a quick ratio of 3.60. The fifty day moving average price for GTLB is $32.57 and a two-hundred day moving average price translates $44.69 for the stock.
The latest earnings results from GitLab Inc. (NASDAQ: GTLB) was released for Jan, 2023. According to the Software – Application Company, earnings per share came in at -$0.03, beating analysts’ expectations of -$0.14 by 0.11. This compares to -$0.05 EPS in the same period last year. The net profit margin was -40.60% and return on equity was -22.30% for GTLB. The company reported revenue of $122.91 million for the quarter, compared to $77.8 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 57.99 percent. For the current quarter, analysts expect GTLB to generate $117.78M in revenue.
GitLab Inc.(GTLB) Company Profile
GitLab Inc., through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. It offers GitLab, a DevOps platform, which is a single application that leads to faster cycle time and allows visibility throughout and control over various stages of the DevOps lifecycle. The company helps organizations to plan, build, secure, and deploy software to drive business outcomes. It also provides related training and professional services. The company was formerly known as GitLab B.V. and changed its name to GitLab Inc. in July 2015. GitLab Inc. was founded in 2011 and is headquartered in San Francisco, California.
