GitLab (NASDAQ:GTLB) Given New $32.00 Price Target at JPMorgan Chase & Co.

GitLab (NASDAQ:GTLB) had its price objective increased by JPMorgan Chase & Co. from $28.00 to $32.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.

GTLB has been the topic of a number of other research reports. William Blair reiterated an “underperform” rating on shares of GitLab in a research note on Monday, March 23rd. Guggenheim reiterated a “neutral” rating on shares of GitLab in a research note on Wednesday. Bank of America reiterated a “neutral” rating on shares of GitLab in a research note on Wednesday. Sanford C. Bernstein cut their price objective on shares of GitLab from $70.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 4th. Finally, TD Cowen reiterated a “hold” rating and issued a $29.00 price objective on shares of GitLab in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, nineteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $37.81.

GitLab Trading Down 2.8%

Shares of GitLab stock opened at $30.93 on Wednesday. GitLab has a 12-month low of $18.73 and a 12-month high of $52.38. The firm has a market capitalization of $5.26 billion, a price-to-earnings ratio of -193.31 and a beta of 0.96. The firm’s 50 day simple moving average is $23.67 and its two-hundred day simple moving average is $30.24.

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

Insider Buying and Selling at GitLab

In other GitLab news, Director Sytse Sijbrandij sold 116,200 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $24.85, for a total transaction of $2,887,570.00. Following the transaction, the director directly owned 15,018,251 shares of the company’s stock, valued at $373,203,537.35. This trade represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Jacobson sold 459,799 shares of the stock in a transaction on Friday, March 20th. The shares were sold at an average price of $22.37, for a total transaction of $10,285,703.63. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 1,392,308 shares of company stock worth $31,654,249. 10.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On GitLab

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its holdings in GitLab by 124.1% during the third quarter. Allworth Financial LP now owns 558 shares of the company’s stock valued at $25,000 after purchasing an additional 309 shares in the last quarter. Quarry LP purchased a new position in GitLab during the third quarter valued at $31,000. Lodestone Wealth Management LLC purchased a new position in GitLab during the fourth quarter valued at $36,000. Larson Financial Group LLC lifted its holdings in GitLab by 92.7% during the third quarter. Larson Financial Group LLC now owns 1,000 shares of the company’s stock valued at $45,000 after purchasing an additional 481 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new position in GitLab during the third quarter valued at $48,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

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.