GitLab (NASDAQ:GTLB) Price Target Raised to $38.00

GitLab (NASDAQ:GTLB) had its target price boosted by equities research analysts at Needham & Company LLC from $32.00 to $38.00 in a research report issued to clients and investors on Wednesday, MarketBeat reports. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target points to a potential upside of 19.42% from the stock’s current price.

GTLB has been the subject of a number of other reports. Piper Sandler lowered shares of GitLab from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $55.00 to $28.00 in a research report on Wednesday, March 4th. Cantor Fitzgerald lowered their target price on shares of GitLab from $30.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 13th. Bank of America reissued a “neutral” rating on shares of GitLab in a report on Wednesday. Sanford C. Bernstein decreased their price target on shares of GitLab from $70.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, March 4th. Finally, UBS Group lowered GitLab from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $44.00 to $24.00 in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eighteen have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $37.69.

GitLab Price Performance

NASDAQ:GTLB opened at $31.82 on Wednesday. GitLab has a 1 year low of $18.73 and a 1 year high of $52.38. The stock’s fifty day moving average price is $23.30 and its two-hundred day moving average price is $30.43. The company has a market cap of $5.41 billion, a P/E ratio of -90.91 and a beta of 0.96.

GitLab (NASDAQ:GTLB) last released its quarterly earnings data 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. The company had revenue of $264.16 million for the quarter, compared to analyst estimates of $254.23 million. GitLab had a negative return on equity of 1.73% and a negative net margin of 5.86%.The firm’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.17 EPS. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. On average, analysts expect that GitLab will post -0.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other GitLab news, Director Sytse Sijbrandij sold 116,200 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $24.85, for a total transaction of $2,887,570.00. Following the sale, the director owned 15,018,251 shares in the company, 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 available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Jacobson sold 700,109 shares of the company’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $22.95, for a total value of $16,067,501.55. Following the completion of the transaction, the director owned 325 shares of the company’s stock, valued at $7,458.75. The trade was a 99.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,392,308 shares of company stock worth $31,654,249. 10.64% of the stock is owned by insiders.

Hedge Funds Weigh In On GitLab

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in GitLab by 9.2% during the 3rd quarter. Vanguard Group Inc. now owns 15,281,775 shares of the company’s stock valued at $688,902,000 after acquiring an additional 1,285,881 shares during the period. Eminence Capital LP increased its stake in 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 purchasing an additional 494,497 shares during the period. Atreides Management LP lifted its position in GitLab by 38.9% in the third quarter. Atreides Management LP now owns 5,470,305 shares of the company’s stock valued at $246,601,000 after purchasing an additional 1,532,107 shares during the last quarter. AQR Capital Management LLC lifted its position in GitLab by 766.3% in the fourth quarter. AQR Capital Management LLC now owns 5,433,375 shares of the company’s stock valued at $203,915,000 after purchasing 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% during the third quarter. Champlain Investment Partners LLC now owns 4,703,281 shares of the company’s stock valued at $212,024,000 after purchasing an additional 191,084 shares during the period. Institutional investors own 95.04% of the company’s stock.

Key Stories Impacting GitLab

Here are the key news stories impacting GitLab this week:

• Positive Sentiment: GitLab beat first-quarter fiscal 2027 expectations, reporting $0.23 in adjusted EPS versus $0.20 expected and revenue of $264.2 million versus $254.2 million expected, with sales up 23.2% year over year. GitLab earnings report and transcript
• Positive Sentiment: Management issued second-quarter fiscal 2027 guidance above Wall Street expectations, with EPS guidance of $0.17-$0.18 versus $0.13 consensus and revenue guidance of $272 million-$274 million around consensus. GitLab Q1 fiscal 2027 financial results
• Positive Sentiment: Rosenblatt Securities reiterated a Buy rating and set a $43 price target, reinforcing a bullish Wall Street view after the report. Rosenblatt Securities rating update
• Neutral Sentiment: Investors also appeared to position ahead of earnings, with unusually heavy call-option activity suggesting speculation around the results rather than a fundamental change. Pre-earnings positioning
• Negative Sentiment: GitLab said it will cut about 14% of its workforce, or roughly 350 employees, and exit 22 countries as part of an AI-focused restructuring, which may signal near-term execution and cost pressures even as it supports longer-term efficiency. WSJ workforce reduction article

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.