GitLab Inc. (NASDAQ:GTLB – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-five research firms that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $75.38.
Several equities research analysts have issued reports on the company. KeyCorp raised their price target on GitLab from $74.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $80.00 price target on shares of GitLab in a report on Tuesday, March 4th. The Goldman Sachs Group raised their price target on GitLab from $80.00 to $88.00 and gave the company a “buy” rating in a report on Friday, December 6th. TD Cowen increased their price objective on GitLab from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Macquarie reiterated an “outperform” rating and set a $90.00 price objective on shares of GitLab in a research report on Tuesday, March 4th.
View Our Latest Research Report on GTLB
Insider Activity
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of GTLB. Sumitomo Mitsui Trust Group Inc. boosted its position in GitLab by 6,821.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 297,632 shares of the company’s stock worth $15,340,000 after purchasing an additional 293,332 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of GitLab by 56.1% during the 3rd quarter. Victory Capital Management Inc. now owns 352,256 shares of the company’s stock valued at $18,155,000 after buying an additional 126,578 shares during the last quarter. OneDigital Investment Advisors LLC purchased a new position in shares of GitLab during the 3rd quarter valued at $200,000. Claro Advisors LLC purchased a new position in shares of GitLab during the 3rd quarter valued at $811,000. Finally, Thrivent Financial for Lutherans lifted its position in shares of GitLab by 128.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 554,455 shares of the company’s stock valued at $28,577,000 after buying an additional 312,119 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.
GitLab Trading Up 4.2 %
NASDAQ GTLB opened at $52.08 on Monday. The company has a market cap of $8.45 billion, a PE ratio of -162.75 and a beta of 0.67. GitLab has a 12 month low of $40.72 and a 12 month high of $74.18. The stock has a 50 day moving average of $63.76 and a 200-day moving average of $59.24.
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.
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