GitLab (NASDAQ:GTLB) Rating Increased to Strong-Buy at Zacks Research

GitLab (NASDAQ:GTLB) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

GTLB has been the subject of a number of other reports. JPMorgan Chase & Co. increased their target price on shares of GitLab from $28.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, June 3rd. Needham & Company LLC upped their price target on shares of GitLab from $32.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. TD Cowen restated a “hold” rating and set a $29.00 price target on shares of GitLab in a research note on Wednesday, June 3rd. Bank of America reiterated a “neutral” rating on shares of GitLab in a research note on Wednesday, June 3rd. Finally, DA Davidson raised their price objective on shares of GitLab from $24.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eighteen have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.64.

GitLab Stock Down 5.9%

GitLab stock opened at $28.51 on Tuesday. GitLab has a twelve month low of $18.73 and a twelve month high of $52.38. The firm has a 50 day moving average price of $24.63 and a 200-day moving average price of $29.78. The company has a market capitalization of $4.85 billion, a P/E ratio of -178.19 and a beta of 0.96.

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

Insider Buying and Selling

In related news, Director Sytse Sijbrandij sold 116,200 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $24.85, for a total transaction of $2,887,570.00. Following the completion of the transaction, the director owned 15,018,251 shares in the company, valued at $373,203,537.35. This represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Jacobson sold 459,799 shares of GitLab stock in a transaction on Friday, March 20th. The shares were sold at an average price of $22.37, for a total transaction of $10,285,703.63. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 1,392,308 shares of company stock worth $31,654,249. Corporate insiders own 10.64% of the company’s stock.

Institutional Trading of GitLab

Several large investors have recently bought and sold shares of GTLB. Allworth Financial LP lifted its stake in shares of GitLab by 124.1% in the 3rd quarter. Allworth Financial LP now owns 558 shares of the company’s stock valued at $25,000 after purchasing an additional 309 shares during the period. Quarry LP bought a new position in GitLab in the third quarter worth $31,000. Lodestone Wealth Management LLC purchased a new position in GitLab during the fourth quarter valued at $36,000. Larson Financial Group LLC boosted its holdings in shares of GitLab by 92.7% during the 3rd quarter. Larson Financial Group LLC now owns 1,000 shares of the company’s stock valued at $45,000 after buying an additional 481 shares in the last quarter. Finally, Advisory Services Network LLC bought a new stake in shares of GitLab during the 3rd quarter valued at $48,000. 95.04% of the stock is owned by institutional investors.

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.