GitLab (NASDAQ:GTLB) Releases Quarterly Earnings Results

GitLab (NASDAQ:GTLB) posted its quarterly earnings data on Tuesday. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05, FiscalAI reports. The firm had revenue of $244.35 million during the quarter, compared to analysts’ expectations of $239.31 million. GitLab had a negative return on equity of 1.56% and a negative net margin of 4.70%.The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 EPS. GitLab updated its FY 2026 guidance to 0.950-0.960 EPS and its Q4 2026 guidance to 0.220-0.230 EPS.

GitLab Stock Down 12.8%

Shares of GTLB traded down $5.54 during mid-day trading on Wednesday, hitting $37.83. The stock had a trading volume of 21,975,112 shares, compared to its average volume of 3,599,963. The company has a market cap of $6.31 billion, a PE ratio of -140.11 and a beta of 0.75. GitLab has a fifty-two week low of $35.81 and a fifty-two week high of $74.18. The company’s fifty day simple moving average is $45.36 and its two-hundred day simple moving average is $45.53.

Insider Buying and Selling at GitLab

In other GitLab news, Director Karen Blasing sold 3,250 shares of GitLab stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $45.26, for a total value of $147,095.00. Following the completion of the transaction, the director directly owned 97,389 shares in the company, valued at $4,407,826.14. The trade was a 3.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Matthew Jacobson sold 63,587 shares of the firm’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $50.16, for a total value of $3,189,523.92. Following the completion of the sale, the director directly owned 820 shares in the company, valued at approximately $41,131.20. This trade represents a 98.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,329,712 shares of company stock worth $64,154,795 in the last quarter. 16.37% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On GitLab

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. increased its stake in shares of GitLab by 1.6% during the first quarter. Goldman Sachs Group Inc. now owns 776,521 shares of the company’s stock valued at $36,496,000 after acquiring an additional 12,200 shares during the period. Woodline Partners LP bought a new position in GitLab during the 1st quarter valued at $314,000. Russell Investments Group Ltd. increased its position in shares of GitLab by 31.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,112 shares of the company’s stock valued at $321,000 after purchasing an additional 1,709 shares during the period. California Public Employees Retirement System raised its stake in shares of GitLab by 17.0% in the 2nd quarter. California Public Employees Retirement System now owns 167,870 shares of the company’s stock worth $7,573,000 after buying an additional 24,448 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of GitLab by 7.0% in the second quarter. State Street Corp now owns 2,283,597 shares of the company’s stock valued at $103,013,000 after buying an additional 148,713 shares during the period. 95.04% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. KeyCorp lowered their target price on shares of GitLab from $53.00 to $49.00 and set an “overweight” rating for the company in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of GitLab from $52.00 to $53.00 and gave the company a “neutral” rating in a report on Wednesday. The Goldman Sachs Group dropped their price objective on GitLab from $48.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday. Morgan Stanley cut their target price on GitLab from $60.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Truist Financial set a $42.00 target price on GitLab in a report on Wednesday. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.29.

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.