Rosenblatt Securities Cuts GitLab (NASDAQ:GTLB) Price Target to $43.00

GitLab (NASDAQ:GTLB) had its price objective cut by Rosenblatt Securities from $55.00 to $43.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of GitLab from $52.00 to $53.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 3rd. Zacks Research downgraded GitLab from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Cantor Fitzgerald cut their price objective on GitLab from $40.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, February 27th. Macquarie Infrastructure cut GitLab from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $70.00 to $40.00 in a research report on Wednesday, December 3rd. Finally, Mizuho lowered their target price on GitLab from $37.00 to $30.00 and set a “neutral” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $39.96.

GitLab Stock Down 1.8%

Shares of NASDAQ GTLB opened at $24.91 on Wednesday. The firm’s 50-day moving average price is $32.39 and its 200-day moving average price is $40.45. The company has a market cap of $4.19 billion, a PE ratio of -71.17 and a beta of 0.79. GitLab has a 52-week low of $23.10 and a 52-week high of $58.75.

GitLab (NASDAQ:GTLB) last released 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. The firm had revenue of $260.40 million during the quarter, compared to analysts’ expectations of $252.31 million. GitLab had a negative net margin of 5.86% and a negative return on equity of 1.79%. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.33 earnings per share. As a group, equities research analysts anticipate that GitLab will post -0.31 EPS for the current fiscal year.

Insider Buying and Selling at GitLab

In related news, Director Sytse Sijbrandij sold 54,300 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $28.41, for a total value of $1,542,663.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Simon Mundy sold 2,756 shares of GitLab stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $38.42, for a total value of $105,885.52. Following the transaction, the chief accounting officer owned 47,184 shares in the company, valued at $1,812,809.28. This trade represents a 5.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 603,744 shares of company stock worth $22,536,495. Insiders own 16.37% of the company’s stock.

Institutional Trading of GitLab

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Allworth Financial LP raised its stake in shares of GitLab by 124.1% in the third quarter. Allworth Financial LP now owns 558 shares of the company’s stock worth $25,000 after buying an additional 309 shares during the period. Quarry LP purchased a new position in shares of GitLab during the 3rd quarter valued at about $31,000. Lodestone Wealth Management LLC bought a new position in shares of GitLab during the 4th quarter valued at approximately $36,000. Farther Finance Advisors LLC grew its stake in shares of GitLab by 284.3% during the 3rd 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 period. Finally, Global Retirement Partners LLC increased its holdings in GitLab by 84.1% in the 3rd quarter. Global Retirement Partners LLC now owns 974 shares of the company’s stock worth $44,000 after acquiring an additional 445 shares in the last quarter. Hedge funds and other 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.