GitLab (GTLB) Set to Announce Quarterly Earnings on Thursday

GitLab (NASDAQ:GTLB) is scheduled to issue its quarterly earnings data after the market closes on Thursday, December 5th. Analysts expect the company to announce earnings of $0.16 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

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

GitLab Stock Down 1.2 %

GitLab stock opened at $62.99 on Tuesday. The firm has a 50-day moving average price of $56.80 and a two-hundred day moving average price of $51.97. The firm has a market capitalization of $10.11 billion, a price-to-earnings ratio of -26.92 and a beta of 0.45. GitLab has a 52-week low of $40.72 and a 52-week high of $78.53.

Analysts Set New Price Targets

GTLB has been the subject of a number of analyst reports. Needham & Company LLC raised shares of GitLab from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research note on Monday, October 21st. Barclays upped their price target on shares of GitLab from $50.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 5th. Wells Fargo & Company upped their price target on shares of GitLab from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Baird R W raised shares of GitLab to a “strong-buy” rating in a research note on Tuesday, August 27th. Finally, Cantor Fitzgerald raised shares of GitLab to a “strong-buy” rating in a research note on Tuesday, November 12th. Three investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.17.

Insiders Place Their Bets

In other GitLab news, CEO Sytse Sijbrandij sold 84,776 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $59.64, for a total value of $5,056,040.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Karen Blasing sold 3,250 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $59.41, for a total transaction of $193,082.50. Following the transaction, the director now owns 137,983 shares in the company, valued at $8,197,570.03. This represents a 2.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 185,033 shares of company stock worth $10,569,356 in the last quarter. 21.36% of the stock is currently owned by corporate 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.