Stocks of Gitlab Inc (NASDAQ:GTLB) traded higher last session on Wall Street, up 11.45% to $58.99.
According to the data, Gitlab Inc (NASDAQ:GTLB) has 23 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $80.00 and a low of $55.00, we find $70.00. Given the previous closing price of $52.93, this indicates a potential upside of 32.25 percent. GTLB stock price is now 29.38% away from the 50-day moving average and 36.96% away from the 200-day moving average. The market capitalization of the company currently stands at $9.18B.
A total of 7 analysts have issued a hold rating and 14 have given it a buy rating. Brokers who have rated the stock have averaged $68.61 as their price target over the next twelve months.
In other news, Sijbrandij Sytse, Chief Executive Officer sold 159,433 shares of the company’s stock on Nov 15. The stock was sold for $7,831,015 at an average price of $49.12. Upon completion of the transaction, the Chief Executive Officer now directly owns 0 shares in the company, valued at $0.0. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 13, Chief Financial Officer ROBINS BRIAN G sold 10,000 shares of the business’s stock. A total of $454,900 was realized by selling the stock at an average price of $45.49. This leaves the insider owning 464,338 shares of the company worth $27.39 million. Insiders disposed of 20,502,211 shares of company stock worth roughly $1.21 billion over the past 1 year. A total of 36.65% of the company’s stock is owned by insiders.
Tuesday’s opening bell rang with an opening price of $59.68 for Gitlab Inc (NASDAQ: GTLB). During the past 12 months, Gitlab Inc has had a low of $26.24 and a high of $58.70. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 1.97, and a quick ratio of 1.97. The fifty day moving average price for GTLB is $45.60 and a two-hundred day moving average price translates $43.07 for the stock.
The latest earnings results from Gitlab Inc (NASDAQ: GTLB) was released for Oct, 2023. According to the Software – Application Company, earnings per share came in at $0.09, beating analysts’ expectations of -$0.01 by 0.1. This compares to -$0.42 EPS in the same period last year. The net profit margin was -79.11% and return on equity was -65.10% 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 $150.24M 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.
