GitLab (NASDAQ:GTLB) Announces Quarterly Earnings Results

GitLab (NASDAQ:GTLB) issued its quarterly earnings data on Tuesday. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03, FiscalAI reports. GitLab had a negative net margin of 5.86% and a negative return on equity of 1.73%. The business had revenue of $264.16 million during the quarter, compared to analysts’ expectations of $254.23 million.

GitLab Price Performance

Shares of GitLab stock traded down $1.95 during trading on Tuesday, reaching $31.84. 11,319,285 shares of the company traded hands, compared to its average volume of 5,049,984. GitLab has a 1-year low of $18.73 and a 1-year high of $52.38. The company has a 50 day moving average price of $23.30 and a 200-day moving average price of $30.43. The firm has a market capitalization of $5.42 billion, a PE ratio of -96.54 and a beta of 0.96.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Mizuho dropped their target price on shares of GitLab from $30.00 to $26.00 and set a “neutral” rating for the company in a research report on Tuesday, May 12th. Cantor Fitzgerald dropped their target price on shares of GitLab from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Wednesday, May 13th. Canaccord Genuity Group decreased their price target on shares of GitLab from $70.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Morgan Stanley decreased their price target on shares of GitLab from $38.00 to $29.00 and set a “cautious” rating on the stock in a report on Monday, March 9th. Finally, TD Cowen lowered shares of GitLab from a “buy” rating to a “hold” rating and set a $29.00 price target on the stock. in a report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eighteen have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $37.08.

Insiders Place Their Bets

In related news, Director Sytse Sijbrandij sold 116,200 shares of the business’s 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 transaction, the director owned 15,018,251 shares in the company, valued at $373,203,537.35. The trade was a 0.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Jacobson sold 700,109 shares of the company’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $22.95, for a total transaction of $16,067,501.55. Following the transaction, the director owned 325 shares in the company, valued at approximately $7,458.75. The trade was a 99.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,392,308 shares of company stock worth $31,654,249 in the last quarter. 10.64% of the stock is owned by corporate insiders.

Institutional Trading of GitLab

Institutional investors have recently made changes to their positions in the company. Allworth Financial LP grew its position in GitLab by 124.1% during the third quarter. Allworth Financial LP now owns 558 shares of the company’s stock valued at $25,000 after acquiring an additional 309 shares during the last quarter. Utah Retirement Systems boosted its holdings in GitLab by 6.6% in the fourth quarter. Utah Retirement Systems now owns 7,407 shares of the company’s stock valued at $278,000 after acquiring an additional 460 shares in the last quarter. Larson Financial Group LLC boosted its holdings in GitLab by 92.7% in the third quarter. Larson Financial Group LLC now owns 1,000 shares of the company’s stock valued at $45,000 after acquiring an additional 481 shares in the last quarter. Quarry LP boosted its holdings in GitLab by 72.5% in the fourth quarter. Quarry LP now owns 1,202 shares of the company’s stock valued at $45,000 after acquiring an additional 505 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in GitLab by 6.1% in the fourth quarter. MetLife Investment Management LLC now owns 9,018 shares of the company’s stock valued at $338,000 after acquiring an additional 516 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

About GitLab

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.