GitLab (GTLB) – Investment Analysts’ Recent Ratings Updates

Posted by Eileen French on Dec 20th, 2024

GitLab (NASDAQ: GTLB) has recently received a number of price target changes and ratings updates:

12/12/2024 – GitLab is now covered by analysts at Macquarie. They set an “outperform” rating and a $90.00 price target on the stock.
12/9/2024 – GitLab had its price target raised by analysts at Mizuho from $67.00 to $80.00. They now have an “outperform” rating on the stock.
12/9/2024 – GitLab had its price target raised by analysts at Barclays PLC from $55.00 to $70.00. They now have an “equal weight” rating on the stock.
12/6/2024 – GitLab had its price target raised by analysts at Morgan Stanley from $70.00 to $77.00. They now have an “overweight” rating on the stock.
12/6/2024 – GitLab had its price target raised by analysts at Cantor Fitzgerald from $75.00 to $80.00. They now have an “overweight” rating on the stock.
12/6/2024 – GitLab had its price target raised by analysts at Wells Fargo & Company from $75.00 to $80.00. They now have an “overweight” rating on the stock.
12/6/2024 – GitLab had its price target raised by analysts at Piper Sandler from $75.00 to $85.00. They now have an “overweight” rating on the stock.
12/6/2024 – GitLab had its price target raised by analysts at KeyCorp from $74.00 to $80.00. They now have an “overweight” rating on the stock.
12/6/2024 – GitLab had its price target raised by analysts at Royal Bank of Canada from $73.00 to $80.00. They now have an “outperform” rating on the stock.
12/6/2024 – GitLab had its price target raised by analysts at Robert W. Baird from $62.00 to $75.00. They now have an “outperform” rating on the stock.
12/6/2024 – GitLab had its price target raised by analysts at DA Davidson from $50.00 to $70.00. They now have a “neutral” rating on the stock.
12/6/2024 – GitLab had its price target raised by analysts at JPMorgan Chase & Co. from $60.00 to $65.00. They now have a “neutral” rating on the stock.
12/6/2024 – GitLab had its price target raised by analysts at The Goldman Sachs Group, Inc. from $80.00 to $88.00. They now have a “buy” rating on the stock.
12/6/2024 – GitLab had its “buy” rating reaffirmed by analysts at Truist Financial Co.. They now have a $90.00 price target on the stock, up previously from $80.00.
12/6/2024 – GitLab had its price target raised by analysts at Needham & Company LLC from $70.00 to $85.00. They now have a “buy” rating on the stock.
12/6/2024 – GitLab had its price target raised by analysts at Canaccord Genuity Group Inc. from $65.00 to $78.00. They now have a “buy” rating on the stock.
12/4/2024 – GitLab had its price target raised by analysts at Scotiabank from $65.00 to $75.00. They now have a “sector outperform” rating on the stock.
11/26/2024 – GitLab had its price target raised by analysts at KeyCorp from $62.00 to $74.00. They now have an “overweight” rating on the stock.
11/21/2024 – GitLab had its price target raised by analysts at TD Cowen from $63.00 to $70.00. They now have a “buy” rating on the stock.
11/12/2024 – GitLab was upgraded by analysts at Cantor Fitzgerald to a “strong-buy” rating.
10/21/2024 – GitLab was upgraded by analysts at Needham & Company LLC from a “hold” rating to a “buy” rating. They now have a $70.00 price target on the stock.

GitLab Price Performance

Shares of GTLB opened at $55.66 on Friday. The company has a market capitalization of $9.03 billion, a price-to-earnings ratio of -173.94 and a beta of 0.54. The business has a 50-day moving average of $59.55 and a 200-day moving average of $52.66. GitLab Inc. has a 1 year low of $40.72 and a 1 year high of $78.53.

Insiders Place Their Bets

In other GitLab news, CFO Brian G. Robins sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $67.59, for a total transaction of $675,900.00. Following the completion of the sale, the chief financial officer now directly owns 242,803 shares of the company’s stock, valued at approximately $16,411,054.77. This represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robin Schulman sold 2,990 shares of GitLab stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $55.00, for a total transaction of $164,450.00. Following the sale, the insider now owns 136,076 shares in the company, valued at approximately $7,484,180. The trade was a 2.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 180,182 shares of company stock valued at $10,466,739. Corporate insiders own 21.36% of the company’s stock.

Institutional Investors Weigh In On GitLab

Several hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. boosted its position in shares of GitLab by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 2,670,072 shares of the company’s stock worth $146,774,000 after purchasing an additional 21,976 shares during the period. State Street Corp grew its position in shares of GitLab by 5.8% during the third quarter. State Street Corp now owns 2,032,206 shares of the company’s stock worth $104,740,000 after acquiring an additional 111,997 shares during the last quarter. Geode Capital Management LLC lifted its stake in GitLab by 7.0% during the third quarter. Geode Capital Management LLC now owns 2,026,567 shares of the company’s stock valued at $104,476,000 after purchasing an additional 132,548 shares during the last quarter. Fiera Capital Corp increased its stake in shares of GitLab by 1.4% in the third quarter. Fiera Capital Corp now owns 1,259,429 shares of the company’s stock worth $64,911,000 after acquiring an additional 16,961 shares during the last quarter. Finally, Bamco Inc. NY raised its position in GitLab by 0.4% in the third quarter. Bamco Inc. NY now owns 1,253,244 shares of the company’s stock worth $64,592,000 after purchasing an additional 4,874 shares in the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

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.