GitLab (NASDAQ:GTLB) Stock Price Expected to Rise, Bank of America Analyst Says

GitLab (NASDAQ:GTLB) had its price objective upped by equities researchers at Bank of America from $38.00 to $45.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s price target would indicate a potential upside of 6.41% from the company’s current price.

Several other equities research analysts have also recently commented on the company. Sanford C. Bernstein restated an “outperform” rating on shares of GitLab in a research note on Monday, June 29th. Needham & Company LLC raised their price target on shares of GitLab from $32.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. lifted their price objective on shares of GitLab from $28.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, June 3rd. UBS Group boosted their price objective on shares of GitLab from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Friday, July 10th. Finally, Zacks Research cut shares of GitLab from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, six have given 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 company presently has a consensus rating of “Hold” and an average price target of $38.29.

GitLab Price Performance

Shares of GitLab stock traded up $0.79 on Wednesday, hitting $42.29. The company had a trading volume of 1,529,416 shares, compared to its average volume of 5,833,927. The stock has a 50-day moving average of $32.87 and a 200-day moving average of $28.09. GitLab has a twelve month low of $18.73 and a twelve month high of $52.38. The firm has a market capitalization of $7.14 billion, a P/E ratio of -264.59 and a beta of 0.94.

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

Insider Transactions at GitLab

In other news, CAO Simon Mundy sold 8,725 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $38.00, for a total value of $331,550.00. Following the completion of the sale, the chief accounting officer directly owned 105,332 shares of the company’s stock, valued at $4,002,616. This trade represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sytse Sijbrandij sold 116,200 shares of GitLab stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $28.44, for a total value of $3,304,728.00. Following the transaction, the director owned 14,902,051 shares of the company’s stock, valued at $423,814,330.44. This represents a 0.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.64% of the company’s stock.

Institutional Investors Weigh In On GitLab

A number of large investors have recently added to or reduced their stakes in GTLB. Goldman Sachs Group Inc. boosted its position in GitLab by 1.6% during the first quarter. Goldman Sachs Group Inc. now owns 776,521 shares of the company’s stock worth $36,496,000 after purchasing an additional 12,200 shares during the period. Woodline Partners LP bought a new position in shares of GitLab in the first quarter valued at about $314,000. Russell Investments Group Ltd. lifted its stake 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 worth $321,000 after buying an additional 1,709 shares during the last quarter. California Public Employees Retirement System lifted its stake in shares of GitLab by 17.0% during 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 during the last quarter. Finally, State Street Corp lifted its stake in shares of GitLab by 7.0% during the 2nd quarter. State Street Corp now owns 2,283,597 shares of the company’s stock worth $103,013,000 after buying an additional 148,713 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

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.