The stock of GitLab Inc. (NASDAQ:GTLB) last traded at $49.93, down -2.06% from the previous session.
Data from the available sources indicates that GitLab Inc. (NASDAQ:GTLB) is covered by 21 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $70.00 and a low of $48.00, we find $62.00. Given the previous closing price of $50.98, this indicates a potential upside of 21.62 percent. GTLB stock price is now 3.33% away from the 50-day moving average and 15.99% away from the 200-day moving average. The market capitalization of the company currently stands at $7.66B.
In total, 5 analysts have assigned it a hold rating, and 13 have given it a buy rating. Brokers who have rated the stock have averaged $61.06 as their price target over the next twelve months.
With the price target of $62, Canaccord Genuity recently initiated with Buy rating for GitLab Inc. (NASDAQ: GTLB).
In other news, BOSTROM SUSAN L, Director sold 15,000 shares of the company’s stock on Sep 12. The stock was sold for $797,250 at an average price of $53.15. Upon completion of the transaction, the Director now directly owns 275,869 shares in the company, valued at $13.77 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 12, Chief Financial Officer ROBINS BRIAN G sold 10,000 shares of the business’s stock. A total of $528,185 was realized by selling the stock at an average price of $52.82. This leaves the insider owning 486,849 shares of the company worth $24.31 million. Insiders disposed of 16,833,974 shares of company stock worth roughly $840.52 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 ANOMALY CAPITAL MANAGEMENT, LP during the first quarter worth $37,158,000. TWO SIGMA INVESTMENTS, LP invested $20,758,000 in shares of GTLB during the first quarter. In the first quarter, MAN GROUP PLC acquired a new stake in GitLab Inc. valued at approximately $18,623,000. BALYASNY ASSET MANAGEMENT L.P. acquired a new stake in GTLB for approximately $15,113,000. BNP PARIBAS ARBITRAGE, SNC purchased a new stake in GTLB valued at around $14,241,000 in the second quarter. In total, there are 322 active investors with 84.70% ownership of the company’s stock.
With an opening price of $50.98 on Thursday morning, GitLab Inc. (NASDAQ: GTLB) set off the trading day. During the past 12 months, GitLab Inc. has had a low of $26.24 and a high of $62.12. 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 $48.30 and a two-hundred day moving average price translates $43.10 for the stock.
The latest earnings results from GitLab Inc. (NASDAQ: GTLB) was released for Jul, 2023. According to the Software – Application Company, earnings per share came in at $0.01, beating analysts’ expectations of -$0.03 by 0.04. This compares to -$0.42 EPS in the same period last year. The net profit margin was -37.80% and return on equity was -24.60% for GTLB. The company reported revenue of $139.58 million for the quarter, compared to $101.04 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 38.14 percent. For the current quarter, analysts expect GTLB to generate $141.52M 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.
