GitLab (NASDAQ:GTLB) Reaches New 52-Week Low After Analyst Downgrade

GitLab Inc. (NASDAQ:GTLB)’s stock price hit a new 52-week low during mid-day trading on Wednesday after Macquarie downgraded the stock from an outperform rating to a neutral rating. Macquarie now has a $40.00 price target on the stock, down from their previous price target of $70.00. GitLab traded as low as $35.99 and last traded at $37.2040, with a volume of 6888378 shares. The stock had previously closed at $43.37.

A number of other brokerages also recently weighed in on GTLB. Raymond James Financial reduced their target price on GitLab from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, September 4th. Barclays lowered their price target on GitLab from $44.00 to $42.00 and set an “equal weight” rating for the company in a report on Wednesday. DA Davidson reaffirmed a “neutral” rating and issued a $45.00 price objective on shares of GitLab in a research note on Monday. Wells Fargo & Company decreased their target price on GitLab from $50.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Piper Sandler reissued an “overweight” rating on shares of GitLab in a research note on Wednesday. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.29.

Insider Transactions at GitLab

In other news, Director Matthew Jacobson sold 63,587 shares of the company’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $50.16, for a total value of $3,189,523.92. Following the completion of the transaction, the director owned 820 shares of the company’s stock, valued at $41,131.20. This represents a 98.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Karen Blasing sold 3,250 shares of the firm’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $45.26, for a total transaction of $147,095.00. Following the completion of the transaction, the director owned 97,389 shares of the company’s stock, valued at approximately $4,407,826.14. This trade represents a 3.23% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 1,329,712 shares of company stock valued at $64,154,795. 16.37% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On GitLab

A number of hedge funds have recently modified their holdings of the business. Value Aligned Research Advisors LLC acquired a new position in shares of GitLab during the third quarter worth $32,105,000. Allworth Financial LP raised its position in GitLab by 124.1% during the 3rd quarter. Allworth Financial LP now owns 558 shares of the company’s stock worth $25,000 after purchasing an additional 309 shares during the last quarter. IFP Advisors Inc raised its position in GitLab by 10.0% during the 3rd quarter. IFP Advisors Inc now owns 6,303 shares of the company’s stock worth $284,000 after purchasing an additional 571 shares during the last quarter. Swiss Life Asset Management Ltd acquired a new position in GitLab during the 3rd quarter worth about $272,000. Finally, Cantor Fitzgerald L. P. grew its position in shares of GitLab by 280.0% in the 3rd quarter. Cantor Fitzgerald L. P. now owns 69,000 shares of the company’s stock valued at $3,111,000 after buying an additional 50,840 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

GitLab Stock Down 0.8%

The company has a market cap of $6.25 billion, a price-to-earnings ratio of -138.93 and a beta of 0.75. The firm has a 50 day moving average price of $45.17 and a two-hundred day moving average price of $45.48.

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. The business had revenue of $244.35 million for the quarter, compared to analysts’ expectations of $239.31 million. GitLab had a negative return on equity of 1.56% and a negative net margin of 4.70%.The firm’s revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.23 earnings per share. GitLab has set its FY 2026 guidance at 0.950-0.960 EPS and its Q4 2026 guidance at 0.220-0.230 EPS. On average, equities analysts expect that GitLab Inc. will post -0.31 earnings per share for the current year.

GitLab Company Profile

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.