GitLab (GTLB) to Release Earnings on Tuesday

GitLab (NASDAQ:GTLB) is set to announce its earnings results after the market closes on Tuesday, September 3rd. Analysts expect the company to announce earnings of $0.10 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

GitLab (NASDAQ:GTLB) last released its earnings results on Monday, June 3rd. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.09. GitLab had a negative return on equity of 19.14% and a negative net margin of 68.52%. The business had revenue of $169.19 million for the quarter, compared to analysts’ expectations of $165.66 million. On average, analysts expect GitLab to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

GitLab Stock Up 0.7 %

Shares of GTLB stock opened at $47.30 on Tuesday. The business has a 50-day moving average price of $48.34 and a two-hundred day moving average price of $54.27. GitLab has a 12-month low of $40.19 and a 12-month high of $78.53. The firm has a market cap of $7.52 billion, a P/E ratio of -17.20 and a beta of 0.46.

Insider Activity

In other GitLab news, Director Karen Blasing sold 4,430 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $56.25, for a total transaction of $249,187.50. Following the transaction, the director now directly owns 150,983 shares of the company’s stock, valued at approximately $8,492,793.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Brian G. Robins sold 11,667 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $45.46, for a total value of $530,381.82. Following the completion of the transaction, the chief financial officer now owns 293,508 shares of the company’s stock, valued at approximately $13,342,873.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Karen Blasing sold 4,430 shares of GitLab stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $56.25, for a total value of $249,187.50. Following the sale, the director now owns 150,983 shares in the company, valued at $8,492,793.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 140,275 shares of company stock valued at $6,848,847. Company insiders own 21.36% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and issued a $65.00 target price on shares of GitLab in a research report on Thursday, July 18th. Barclays lowered their price objective on shares of GitLab from $55.00 to $50.00 and set an “equal weight” rating for the company in a report on Tuesday, June 4th. JPMorgan Chase & Co. cut their price objective on shares of GitLab from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, June 4th. Mizuho decreased their target price on shares of GitLab from $70.00 to $62.00 and set a “buy” rating on the stock in a research report on Tuesday, June 4th. Finally, DA Davidson lowered their price target on shares of GitLab from $65.00 to $50.00 and set a “neutral” rating for the company in a research note on Tuesday, June 4th. Four research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $67.30.

GitLab Company Profile

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.