UBS Group Issues Pessimistic Forecast for GitLab (NASDAQ:GTLB) Stock Price

GitLab (NASDAQ:GTLB) had its price objective dropped by equities research analysts at UBS Group from $60.00 to $51.00 in a report issued on Wednesday, MarketBeat reports. The firm presently has a “buy” rating on the stock. UBS Group’s target price would indicate a potential upside of 35.96% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Truist Financial set a $42.00 target price on GitLab in a report on Wednesday. Rosenblatt Securities restated a “buy” rating and set a $58.00 price target on shares of GitLab in a report on Monday. Needham & Company LLC reduced their price objective on GitLab from $55.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday. DA Davidson reaffirmed a “neutral” rating and set a $45.00 price objective on shares of GitLab in a report on Monday. Finally, Macquarie restated an “outperform” rating and issued a $75.00 target price on shares of GitLab in a report on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.29.

GitLab Stock Performance

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

GitLab (NASDAQ:GTLB) last announced its quarterly earnings results on Tuesday, December 2nd. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. The company had revenue of $244.35 million for the quarter, compared to the consensus estimate of $239.31 million. GitLab had a negative net margin of 4.70% and a negative return on equity of 1.56%. GitLab’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the previous 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. On average, research analysts predict that GitLab will post -0.31 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Matthew Jacobson sold 396,147 shares of the company’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $50.53, for a total transaction of $20,017,307.91. Following the transaction, the director directly owned 73,299 shares in the company, valued at approximately $3,703,798.47. This represents a 84.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sytse Sijbrandij sold 108,600 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $50.14, for a total transaction of $5,445,204.00. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 1,329,712 shares of company stock valued at $64,154,795. Company insiders own 16.37% of the company’s stock.

Institutional Investors Weigh In On GitLab

Institutional investors and hedge funds have recently modified their holdings of the business. Coronation Fund Managers Ltd. bought a new position in GitLab in the 2nd quarter valued at $23,102,000. William Blair Investment Management LLC lifted its position in shares of GitLab by 23.3% during the second quarter. William Blair Investment Management LLC now owns 580,752 shares of the company’s stock worth $26,198,000 after purchasing an additional 109,708 shares during the last quarter. ARK Investment Management LLC boosted its stake in shares of GitLab by 35.7% during the second quarter. ARK Investment Management LLC now owns 3,292,685 shares of the company’s stock valued at $148,533,000 after purchasing an additional 866,353 shares during the period. Stephens Inc. AR purchased a new stake in shares of GitLab during the second quarter valued at $295,000. Finally, Focus Partners Wealth grew its holdings in shares of GitLab by 42.5% in the first quarter. Focus Partners Wealth now owns 252,586 shares of the company’s stock worth $11,871,000 after purchasing an additional 75,331 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

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.