GitLab (GTLB) to Release Quarterly Earnings on Thursday

GitLab (NASDAQ:GTLB) is set to release its earnings data after the market closes on Thursday, December 5th. Analysts expect GitLab to post earnings of $0.16 per share for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.10 by $0.05. GitLab had a negative net margin of 54.62% and a negative return on equity of 15.40%. The company had revenue of $182.58 million during the quarter, compared to analysts’ expectations of $176.86 million. During the same quarter in the previous year, the company earned ($0.29) earnings per share. GitLab’s revenue for the quarter was up 30.8% on a year-over-year basis. On average, analysts expect GitLab to post $0 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

GitLab Price Performance

NASDAQ GTLB opened at $63.86 on Wednesday. The company’s 50 day simple moving average is $57.01 and its two-hundred day simple moving average is $52.02. The stock has a market capitalization of $10.25 billion, a PE ratio of -27.29 and a beta of 0.54. GitLab has a 1 year low of $40.72 and a 1 year high of $78.53.

Analysts Set New Price Targets

GTLB has been the subject of several recent analyst reports. Baird R W upgraded GitLab to a “strong-buy” rating in a research report on Tuesday, August 27th. Bank of America raised their target price on shares of GitLab from $66.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. BTIG Research boosted their price target on shares of GitLab from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Royal Bank of Canada raised their price objective on shares of GitLab from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Finally, UBS Group upped their target price on shares of GitLab from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, GitLab has an average rating of “Moderate Buy” and an average target price of $67.17.

Insider Transactions at GitLab

In other news, CEO Sytse Sijbrandij sold 84,776 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $59.64, for a total transaction of $5,056,040.64. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Erin Mannix sold 1,433 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $52.80, for a total transaction of $75,662.40. Following the transaction, the chief accounting officer now directly owns 72,448 shares of the company’s stock, valued at $3,825,254.40. The trade was a 1.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 185,033 shares of company stock worth $10,569,356. 21.36% of the stock is currently owned by insiders.

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.