The Goldman Sachs Group Lowers GitLab (NASDAQ:GTLB) Price Target to $42.00

GitLab (NASDAQ:GTLB) had its price objective dropped by analysts at The Goldman Sachs Group from $48.00 to $42.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 11.97% from the stock’s previous close.

Several other analysts have also recently commented on the stock. Macquarie reiterated an “outperform” rating and issued a $75.00 price target on shares of GitLab in a research note on Thursday, September 4th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of GitLab in a report on Wednesday. Zacks Research upgraded GitLab from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 8th. DA Davidson restated a “neutral” rating and set a $45.00 price target on shares of GitLab in a report on Monday. Finally, Wells Fargo & Company reduced their price objective on GitLab from $50.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Two equities 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 given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.29.

GitLab Price Performance

NASDAQ GTLB opened at $37.51 on Wednesday. The stock has a market capitalization of $6.25 billion, a price-to-earnings ratio of -138.93 and a beta of 0.75. GitLab has a 1-year low of $35.81 and a 1-year high of $74.18. The business’s fifty day moving average price is $45.17 and its 200-day moving average price is $45.48.

GitLab (NASDAQ:GTLB) last released its quarterly 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 firm had revenue of $244.35 million during the quarter, compared to analyst estimates of $239.31 million. GitLab had a negative net margin of 4.70% and a negative return on equity of 1.56%. The business’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $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. Equities research analysts anticipate that GitLab will post -0.31 EPS for the current year.

Insider Activity

In related news, Director Karen Blasing sold 3,250 shares of the business’s stock in a transaction on Wednesday, October 15th. The stock was 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 in the company, valued at $4,407,826.14. The trade was a 3.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Simon Mundy sold 5,191 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $43.99, for a total value of $228,352.09. Following the completion of the transaction, the chief accounting officer directly owned 53,507 shares in the company, valued at $2,353,772.93. This trade represents a 8.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,329,712 shares of company stock worth $64,154,795 over the last 90 days. Insiders own 16.37% of the company’s stock.

Institutional Investors Weigh In On GitLab

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Allworth Financial LP lifted its stake in shares of 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. Twin Tree Management LP bought a new position in GitLab in the first quarter worth about $29,000. Quarry LP purchased a new stake in shares of GitLab during the third quarter valued at about $31,000. Harbour Investments Inc. lifted its position in shares of GitLab by 447.6% during the first quarter. Harbour Investments Inc. now owns 898 shares of the company’s stock valued at $42,000 after buying an additional 734 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of GitLab by 284.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 907 shares of the company’s stock valued at $41,000 after buying an additional 671 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

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.