GitLab (GTLB) Projected to Post Quarterly Earnings on Monday

GitLab (NASDAQ:GTLB) is anticipated to announce its earnings results after the market closes on Monday, March 3rd. Analysts expect the company to announce earnings of $0.23 per share and revenue of $206.48 million for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

GitLab Stock Up 0.3 %

Shares of NASDAQ:GTLB opened at $60.21 on Friday. The stock has a market cap of $9.77 billion, a price-to-earnings ratio of -188.16 and a beta of 0.63. The firm’s 50 day moving average price is $64.38 and its 200 day moving average price is $58.40. GitLab has a fifty-two week low of $40.72 and a fifty-two week high of $76.41.

Insider Activity

In other news, insider Robin Schulman sold 9,251 shares of GitLab stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $70.00, for a total value of $647,570.00. Following the transaction, the insider now owns 121,893 shares in the company, valued at approximately $8,532,510. This trade represents a 7.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brian G. Robins sold 10,000 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $67.59, for a total transaction of $675,900.00. Following the sale, the chief financial officer now directly owns 242,803 shares in the company, valued at approximately $16,411,054.77. The trade was a 3.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 740,257 shares of company stock worth $44,710,867 over the last three months. Corporate insiders own 21.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GTLB. Canaccord Genuity Group increased their price objective on GitLab from $65.00 to $78.00 and gave the company a “buy” rating in a report on Friday, December 6th. Macquarie restated an “outperform” rating and issued a $90.00 price target on shares of GitLab in a research note on Wednesday, January 15th. Morgan Stanley lifted their price target on shares of GitLab from $70.00 to $77.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Needham & Company LLC reissued a “buy” rating and issued a $85.00 price objective on shares of GitLab in a research note on Tuesday, January 7th. Finally, Mizuho boosted their price target on GitLab from $67.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Three analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $76.23.

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.