GitLab (NASDAQ:GTLB) Given “Hold” Rating at TD Cowen

TD Cowen reaffirmed their hold rating on shares of GitLab (NASDAQ:GTLB) in a research report released on Wednesday morning,Benzinga reports. TD Cowen currently has a $29.00 target price on the stock.

GTLB has been the subject of a number of other reports. Wolfe Research reaffirmed an “outperform” rating and issued a $36.00 target price on shares of GitLab in a research report on Wednesday. BTIG Research boosted their target price on GitLab from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays decreased their target price on GitLab from $29.00 to $25.00 and set an “underweight” rating for the company in a research report on Wednesday, March 4th. Needham & Company LLC boosted their target price on GitLab from $32.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, DA Davidson boosted their target price on GitLab from $24.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, nineteen have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, GitLab has a consensus rating of “Hold” and an average target price of $37.81.

GitLab Trading Down 2.8%

GTLB stock opened at $30.93 on Wednesday. The stock has a 50-day moving average price of $23.67 and a 200-day moving average price of $30.24. GitLab has a 1-year low of $18.73 and a 1-year high of $52.38. The firm has a market cap of $5.26 billion, a PE ratio of -193.31 and a beta of 0.96.

GitLab (NASDAQ:GTLB) last posted its quarterly earnings data on Tuesday, June 2nd. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03. GitLab had a positive return on equity of 0.32% and a negative net margin of 2.49%.The firm had revenue of $264.16 million during the quarter, compared to analyst estimates of $254.23 million. During the same period last year, the company posted $0.17 EPS. The business’s quarterly revenue was up 23.2% on a year-over-year basis. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. On average, analysts forecast that GitLab will post -0.33 earnings per share for the current year.

Insider Transactions at GitLab

In related news, Director Sytse Sijbrandij sold 116,200 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $24.85, for a total value of $2,887,570.00. Following the completion of the sale, the director directly owned 15,018,251 shares of the company’s stock, valued at $373,203,537.35. The trade was a 0.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Jacobson sold 459,799 shares of GitLab stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $22.37, for a total value of $10,285,703.63. The SEC filing for this sale provides additional information. Insiders sold a total of 1,392,308 shares of company stock valued at $31,654,249 over the last ninety days. 10.64% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On GitLab

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of GitLab by 9.2% in the 3rd quarter. Vanguard Group Inc. now owns 15,281,775 shares of the company’s stock worth $688,902,000 after buying an additional 1,285,881 shares during the last quarter. Eminence Capital LP boosted its stake in shares of GitLab by 6.9% in the 4th quarter. Eminence Capital LP now owns 7,702,226 shares of the company’s stock worth $289,065,000 after buying an additional 494,497 shares during the last quarter. Atreides Management LP boosted its stake in shares of GitLab by 38.9% in 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 last quarter. AQR Capital Management LLC boosted its stake in shares of GitLab by 766.3% in the 4th quarter. AQR Capital Management LLC now owns 5,433,375 shares of the company’s stock worth $203,915,000 after buying an additional 4,806,163 shares during the last quarter. Finally, Champlain Investment Partners LLC boosted its stake in shares of GitLab by 4.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 4,703,281 shares of the company’s stock worth $212,024,000 after buying an additional 191,084 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

More GitLab News

Here are the key news stories impacting GitLab this week:

• Positive Sentiment: GitLab beat Q1 estimates, reporting $0.23 EPS versus $0.20 expected and $264.16 million in revenue versus $254.23 million expected, with revenue up 23.2% year over year. GitLab Reports First Quarter Fiscal Year 2027 Financial Results
• Positive Sentiment: The company raised its FY2027 guidance, with Q2 EPS and revenue guidance coming in above Wall Street expectations, signaling continued momentum from enterprise adoption and AI-related product traction. GitLab Reports First Quarter Fiscal Year 2027 Financial Results
• Positive Sentiment: Several analysts turned more constructive after the report, including Needham, BTIG, DA Davidson, and JPMorgan, with multiple price-target increases reflecting confidence in growth and AI opportunities.
• Neutral Sentiment: GitLab also saw unusual call option activity, which suggests traders are positioning for more volatility after earnings.
• Negative Sentiment: Offsetting the strong results, GitLab announced a 14% workforce reduction and plans to exit 22 countries as part of a restructuring aimed at sharpening its strategic focus, which appears to be pressuring sentiment. GitLab to Cut 14% of Workforce as Part of AI Pivot

GitLab Company Profile

GitLab Inc (NASDAQ: GTLB) is a leading provider of a unified DevOps platform designed to streamline the software development lifecycle. Founded in 2011 by Dmitriy Zaporozhets and Sid Sijbrandij, the company initially gained recognition for its open-source Git repository manager. Over time, GitLab expanded its offerings to encompass planning, source code management, continuous integration/continuous deployment (CI/CD), security testing, and monitoring in a single application. This integrated approach enables development teams to collaborate efficiently, reduce toolchain complexity, and accelerate release cycles.

The GitLab platform is offered through both cloud-hosted and self-managed deployment models, catering to organizations of all sizes.