GitLab (NASDAQ:GTLB) Rating Lowered to “Neutral” at Macquarie

GitLab (NASDAQ:GTLB) was downgraded by investment analysts at Macquarie from an “outperform” rating to a “neutral” rating in a research report issued on Wednesday, MarketBeat reports. They currently have a $40.00 target price on the stock, down from their previous target price of $70.00. Macquarie’s target price would indicate a potential upside of 6.64% from the stock’s previous close.

A number of other research analysts also recently commented on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $70.00 price objective on shares of GitLab in a research report on Wednesday. Morgan Stanley dropped their price target on shares of GitLab from $60.00 to $55.00 and set an “overweight” rating on the stock in a research note on Wednesday. Cantor Fitzgerald reiterated an “overweight” rating and set a $60.00 price objective on shares of GitLab in a report on Monday. Guggenheim began coverage on GitLab in a research note on Thursday, September 11th. They issued a “buy” rating and a $70.00 target price on the stock. Finally, FBN Securities raised GitLab to a “strong-buy” rating in a research report on Thursday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.29.

GitLab Trading Down 0.8%

Shares of NASDAQ GTLB opened at $37.51 on Wednesday. GitLab has a twelve month low of $35.81 and a twelve month high of $74.18. The firm has a 50-day moving average of $45.17 and a two-hundred day moving average of $45.48. The company has a market capitalization of $6.25 billion, a price-to-earnings ratio of -138.93 and a beta of 0.75.

GitLab (NASDAQ:GTLB) last announced its earnings results on Tuesday, December 2nd. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.20 by $0.05. GitLab had a negative return on equity of 1.56% and a negative net margin of 4.70%.The business had revenue of $244.35 million during the quarter, compared to the consensus estimate of $239.31 million. During the same period in the prior year, the business posted $0.23 earnings per share. GitLab’s revenue was up 24.6% compared to the same quarter last year. GitLab has set its FY 2026 guidance at 0.950-0.960 EPS and its Q4 2026 guidance at 0.220-0.230 EPS. As a group, research analysts predict that GitLab will post -0.31 earnings per share for the current year.

Insider Buying and Selling at GitLab

In other GitLab news, Director Sytse Sijbrandij sold 108,600 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $43.17, for a total value of $4,688,262.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Matthew Jacobson sold 63,587 shares of the company’s stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $50.16, for a total transaction of $3,189,523.92. Following the sale, the director directly owned 820 shares in the company, valued at $41,131.20. This represents a 98.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,329,712 shares of company stock worth $64,154,795 over the last three months. 16.37% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of GTLB. Allworth Financial LP increased its holdings in GitLab by 124.1% during 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 in the last quarter. Twin Tree Management LP bought a new stake in shares of GitLab during the first quarter worth $29,000. Quarry LP bought a new position in shares of GitLab in the third quarter valued at about $31,000. Farther Finance Advisors LLC raised its holdings 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 buying an additional 671 shares during the last quarter. Finally, Harbour Investments Inc. lifted its position in GitLab by 447.6% during the 1st quarter. Harbour Investments Inc. now owns 898 shares of the company’s stock worth $42,000 after buying an additional 734 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

About GitLab

GitLab Inc, through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. It offers GitLab, a DevOps platform, which is a single application that leads to faster cycle time and allows visibility throughout and control over various stages of the DevOps lifecycle.