GitLab (NASDAQ:GTLB) Price Target Raised to $30.00 at Truist Financial

GitLab (NASDAQ:GTLB) had its target price lifted by Truist Financial from $25.00 to $30.00 in a report issued on Thursday morning, MarketBeat Ratings reports. The brokerage currently has a hold rating on the stock.

Other equities analysts have also issued research reports about the company. Guggenheim reiterated a “neutral” rating on shares of GitLab in a research note on Wednesday, June 3rd. William Blair reissued an “underperform” rating on shares of GitLab in a research report on Monday, March 23rd. DA Davidson raised their price target on shares of GitLab from $24.00 to $35.00 and gave the company a “neutral” rating in a report on Wednesday, June 3rd. Bank of America reaffirmed a “neutral” rating on shares of GitLab in a research report on Wednesday, June 3rd. Finally, Weiss Ratings upgraded shares of GitLab from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 3rd. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $36.84.

GitLab Stock Up 6.7%

Shares of GTLB stock opened at $33.86 on Thursday. The firm has a market cap of $5.72 billion, a price-to-earnings ratio of -211.62 and a beta of 0.96. The company’s 50 day moving average is $27.91 and its 200 day moving average is $28.25. GitLab has a 52-week low of $18.73 and a 52-week high of $52.38.

GitLab (NASDAQ:GTLB) last posted its earnings results on Tuesday, June 2nd. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $264.16 million during the quarter, compared to analyst estimates of $254.23 million. GitLab had a positive return on equity of 0.31% and a negative net margin of 2.49%.GitLab’s revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.17 earnings per share. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. Analysts anticipate that GitLab will post -0.18 EPS for the current fiscal year.

Insider Buying and Selling at GitLab

In other news, Director Sytse Sijbrandij sold 116,200 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $28.44, for a total transaction of $3,304,728.00. Following the sale, the director owned 14,902,051 shares in the company, valued at approximately $423,814,330.44. The trade was a 0.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 348,600 shares of company stock worth $8,605,772 in the last 90 days. 10.64% of the stock is currently owned by insiders.

Institutional Trading of GitLab

Large investors have recently bought and sold shares of the stock. Allworth Financial LP raised its stake in GitLab by 124.1% in the 3rd quarter. Allworth Financial LP now owns 558 shares of the company’s stock worth $25,000 after acquiring an additional 309 shares during the last quarter. Quarry LP acquired a new position in shares of GitLab in the third quarter valued at about $31,000. Fifth Third Bancorp increased its holdings in shares of GitLab by 220.6% in the first quarter. Fifth Third Bancorp now owns 1,603 shares of the company’s stock valued at $35,000 after purchasing an additional 1,103 shares during the period. Lodestone Wealth Management LLC purchased a new position in shares of GitLab in the fourth quarter worth about $36,000. Finally, Larson Financial Group LLC lifted its holdings in shares of GitLab by 92.7% during the third quarter. Larson Financial Group LLC now owns 1,000 shares of the company’s stock worth $45,000 after purchasing an additional 481 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

About GitLab

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.