BTIG Research Reiterates “Buy” Rating for GitLab (NASDAQ:GTLB)

GitLab (NASDAQ:GTLB)‘s stock had its “buy” rating reaffirmed by equities researchers at BTIG Research in a report issued on Thursday,Benzinga reports. They presently have a $36.00 target price on the stock. BTIG Research’s target price would indicate a potential upside of 26.27% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Guggenheim reissued a “neutral” rating on shares of GitLab in a research report on Wednesday, June 3rd. Zacks Research raised shares of GitLab from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Wells Fargo & Company reduced their target price on shares of GitLab from $45.00 to $26.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 4th. TD Cowen reissued a “hold” rating and issued a $29.00 target price on shares of GitLab in a research report on Wednesday, June 3rd. Finally, Truist Financial dropped their price target on GitLab from $35.00 to $25.00 and set a “hold” rating for the company in a research note on Wednesday, March 4th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eighteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $36.64.

GitLab Stock Performance

Shares of GitLab stock opened at $28.51 on Thursday. The firm has a 50-day moving average of $24.63 and a 200-day moving average of $29.78. The stock has a market cap of $4.85 billion, a PE ratio of -178.19 and a beta of 0.96. GitLab has a 52-week low of $18.73 and a 52-week high of $52.38.

GitLab (NASDAQ:GTLB) last announced its earnings results on Tuesday, June 2nd. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $264.16 million during the quarter, compared to analysts’ expectations of $254.23 million. GitLab had a negative net margin of 2.49% and a positive return on equity of 0.31%. GitLab’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.17 earnings per share. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. Equities research analysts predict that GitLab will post -0.18 earnings per share for the current fiscal year.

Insider Transactions at GitLab

In related news, Director Matthew Jacobson sold 700,109 shares of the business’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $22.95, for a total value of $16,067,501.55. Following the completion of the transaction, the director owned 325 shares of the company’s stock, valued at $7,458.75. The trade was a 99.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sytse Sijbrandij sold 116,200 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $24.85, for a total value of $2,887,570.00. Following the completion of the transaction, the director directly owned 15,018,251 shares of the company’s stock, valued at approximately $373,203,537.35. This trade represents a 0.77% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 1,392,308 shares of company stock valued at $31,654,249. 10.64% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Huntington National Bank raised its stake in GitLab by 118.9% during the fourth quarter. Huntington National Bank now owns 320,660 shares of the company’s stock worth $12,034,000 after acquiring an additional 174,200 shares in the last quarter. ABN Amro Investment Solutions bought a new stake in GitLab in the fourth quarter valued at approximately $2,420,000. WINTON GROUP Ltd bought a new stake in GitLab in the third quarter valued at approximately $5,739,000. Light Street Capital Management LLC boosted its holdings in GitLab by 79.2% in the third quarter. Light Street Capital Management LLC now owns 850,000 shares of the company’s stock valued at $38,318,000 after acquiring an additional 375,585 shares during the last quarter. Finally, Eminence Capital LP boosted its holdings in shares of GitLab by 15.9% during the 3rd quarter. Eminence Capital LP now owns 7,207,729 shares of the company’s stock worth $324,924,000 after buying an additional 989,122 shares in the last quarter. Institutional investors and hedge funds 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.