GitLab (NASDAQ:GTLB) Receives Underperform Rating from William Blair

GitLab (NASDAQ:GTLB)‘s stock had its “underperform” rating reaffirmed by equities researchers at William Blair in a report issued on Monday, MarketBeat.com reports.

A number of other analysts also recently weighed in on the stock. BTIG Research reduced their price target on shares of GitLab from $32.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. UBS Group cut their price objective on shares of GitLab from $51.00 to $44.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Cantor Fitzgerald reissued a “neutral” rating on shares of GitLab in a research report on Wednesday, March 4th. Barclays cut their price target on GitLab from $29.00 to $25.00 and set an “underweight” rating for the company in a report on Wednesday, March 4th. Finally, The Goldman Sachs Group reduced their price objective on GitLab from $48.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday, December 3rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, GitLab currently has an average rating of “Hold” and a consensus target price of $39.62.

GitLab Stock Down 2.9%

Shares of NASDAQ GTLB opened at $22.23 on Monday. GitLab has a 12 month low of $21.98 and a 12 month high of $54.08. The company has a market cap of $3.74 billion, a P/E ratio of -63.52 and a beta of 0.79. The business’s 50 day moving average is $29.59 and its two-hundred day moving average is $38.74.

GitLab (NASDAQ:GTLB) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.07. GitLab had a negative return on equity of 1.73% and a negative net margin of 5.86%.The company had revenue of $260.40 million during the quarter, compared to analysts’ expectations of $252.31 million. During the same period in the prior year, the business earned $0.33 earnings per share. GitLab’s revenue for the quarter was up 23.2% compared to the same quarter last year. Sell-side analysts expect that GitLab will post -0.31 earnings per share for the current fiscal year.

Insider Transactions at GitLab

In related news, Director Sytse Sijbrandij sold 54,300 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $28.41, for a total value of $1,542,663.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO James Shen sold 2,538 shares of the stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $38.08, for a total value of $96,647.04. Following the transaction, the chief financial officer owned 52,284 shares of the company’s stock, valued at $1,990,974.72. This represents a 4.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 111,138 shares of company stock worth $3,591,938. 21.36% of the stock is currently owned by insiders.

Hedge Funds Weigh In On GitLab

Several institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP boosted its position in GitLab by 124.1% in the third quarter. Allworth Financial LP now owns 558 shares of the company’s stock valued at $25,000 after buying an additional 309 shares in the last quarter. Quarry LP acquired a new stake in shares of GitLab during the third quarter worth approximately $31,000. Lodestone Wealth Management LLC acquired a new stake in shares of GitLab during the fourth quarter worth approximately $36,000. Farther Finance Advisors LLC raised its stake in shares of GitLab by 284.3% in the third quarter. Farther Finance Advisors LLC now owns 907 shares of the company’s stock valued at $41,000 after acquiring an additional 671 shares during the last quarter. Finally, Global Retirement Partners LLC raised its stake in shares of GitLab by 84.1% in the third quarter. Global Retirement Partners LLC now owns 974 shares of the company’s stock valued at $44,000 after acquiring an additional 445 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

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.