GitLab Inc. (NASDAQ:GTLB) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of GitLab Inc. (NASDAQ:GTLBGet Free Report) have earned an average recommendation of “Moderate Buy” from the twenty-seven research firms that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation, twenty-three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $76.42.

A number of equities analysts have recently commented on GTLB shares. Macquarie started coverage on shares of GitLab in a research note on Thursday, December 12th. They issued an “outperform” rating and a $90.00 target price on the stock. Royal Bank of Canada raised their price objective on GitLab from $73.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. TD Cowen upped their target price on GitLab from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Scotiabank increased their target price on GitLab from $65.00 to $75.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company boosted their price target on GitLab from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th.

Check Out Our Latest Analysis on GitLab

Insider Transactions at GitLab

In other news, CFO Brian G. Robins sold 16,666 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $56.74, for a total value of $945,628.84. Following the sale, the chief financial officer now owns 242,803 shares of the company’s stock, valued at approximately $13,776,642.22. The trade was a 6.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew Jacobson sold 547,679 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $59.72, for a total value of $32,707,389.88. Following the transaction, the director now directly owns 58,471 shares of the company’s stock, valued at $3,491,888.12. This represents a 90.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 750,857 shares of company stock valued at $44,545,645. Company insiders own 21.36% of the company’s stock.

Institutional Trading of GitLab

Hedge funds and other institutional investors have recently made changes to their positions in the business. Y Intercept Hong Kong Ltd acquired a new position in GitLab in the third quarter worth approximately $678,000. State Street Corp boosted its stake in shares of GitLab by 5.8% during the 3rd 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 in the last quarter. Barclays PLC grew its holdings in shares of GitLab by 189.1% in the 3rd quarter. Barclays PLC now owns 61,419 shares of the company’s stock worth $3,164,000 after acquiring an additional 40,171 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new stake in shares of GitLab during the third quarter worth $6,865,000. Finally, ARK Investment Management LLC purchased a new stake in shares of GitLab during the third quarter valued at $13,435,000. 95.04% of the stock is currently owned by institutional investors.

GitLab Stock Down 0.2 %

Shares of GTLB stock opened at $56.35 on Wednesday. GitLab has a fifty-two week low of $40.72 and a fifty-two week high of $78.53. The firm’s 50 day moving average price is $60.20 and its two-hundred day moving average price is $53.56. The stock has a market cap of $9.15 billion, a price-to-earnings ratio of -176.09 and a beta of 0.54.

About GitLab

(Get Free Report

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.

Featured Articles

Analyst Recommendations for GitLab (NASDAQ:GTLB)

Receive News & Ratings for GitLab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GitLab and related companies with MarketBeat.com's FREE daily email newsletter.