Morgan Stanley Lowers GitLab (NASDAQ:GTLB) Price Target to $55.00

GitLab (NASDAQ:GTLB) had its price target reduced by investment analysts at Morgan Stanley from $60.00 to $55.00 in a note issued to investors on Wednesday, MarketBeat.com reports. The brokerage presently has an “overweight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 46.63% from the company’s current price.

A number of other research firms also recently weighed in on GTLB. Wells Fargo & Company decreased their target price on shares of GitLab from $50.00 to $45.00 and set an “equal weight” rating for the company in a research report on Wednesday. Mizuho downgraded shares of GitLab from an “outperform” rating to a “neutral” rating and set a $52.00 price objective for the company. in a research note on Tuesday, October 7th. KeyCorp decreased their price objective on GitLab from $53.00 to $49.00 and set an “overweight” rating for the company in a report on Wednesday. Needham & Company LLC dropped their target price on GitLab from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, DA Davidson reissued a “neutral” rating and set a $45.00 price target on shares of GitLab in a research report on Monday. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.29.

GitLab Stock Performance

Shares of GitLab stock opened at $37.51 on Wednesday. The firm has a market cap of $6.25 billion, a PE ratio of -138.93 and a beta of 0.75. The business’s 50 day simple moving average is $45.17 and its 200 day simple moving average is $45.48. GitLab has a 52-week low of $35.81 and a 52-week high of $74.18.

GitLab (NASDAQ:GTLB) last released its quarterly earnings results on Tuesday, December 2nd. The company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The firm had revenue of $244.35 million during the quarter, compared to the consensus estimate of $239.31 million. GitLab had a negative return on equity of 1.56% and a negative net margin of 4.70%.The business’s revenue was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 EPS. 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, equities research analysts predict that GitLab will post -0.31 EPS for the current year.

Insider Buying and Selling

In other news, Director Sytse Sijbrandij sold 108,600 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $50.14, for a total value of $5,445,204.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew Jacobson sold 396,147 shares of GitLab stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $50.53, for a total value of $20,017,307.91. Following the transaction, the director owned 73,299 shares of the company’s stock, valued at $3,703,798.47. This represents a 84.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,329,712 shares of company stock worth $64,154,795. Company insiders own 16.37% of the company’s stock.

Institutional Investors Weigh In On GitLab

A number of large investors have recently added to or reduced their stakes in GTLB. Vanguard Group Inc. lifted its holdings in GitLab by 9.2% during the 3rd quarter. Vanguard Group Inc. now owns 15,281,775 shares of the company’s stock valued at $688,902,000 after purchasing an additional 1,285,881 shares during the last quarter. Eminence Capital LP raised its position in shares of GitLab by 15.9% in the third quarter. Eminence Capital LP now owns 7,207,729 shares of the company’s stock valued at $324,924,000 after purchasing an additional 989,122 shares during the period. HMI Capital Management L.P. lifted its stake in shares of GitLab by 32.3% during the 2nd quarter. HMI Capital Management L.P. now owns 5,858,626 shares of the company’s stock worth $264,283,000 after buying an additional 1,430,151 shares during the last quarter. Atreides Management LP boosted its holdings in shares of GitLab by 38.9% during the 3rd quarter. Atreides Management LP now owns 5,470,305 shares of the company’s stock worth $246,601,000 after buying an additional 1,532,107 shares during the period. Finally, Champlain Investment Partners LLC grew its stake in GitLab by 4.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 4,703,281 shares of the company’s stock valued at $212,024,000 after buying an additional 191,084 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

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.