GitLab (GTLB) to Release Earnings on Monday

GitLab (NASDAQ:GTLB) is expected to be issuing its quarterly earnings data 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. Parties that are interested in participating in the company’s conference call can do so using this link.

GitLab Stock Down 4.9 %

Shares of GitLab stock opened at $64.12 on Monday. GitLab has a fifty-two week low of $40.72 and a fifty-two week high of $76.41. The firm has a market cap of $10.41 billion, a price-to-earnings ratio of -200.38 and a beta of 0.63. The business has a fifty day simple moving average of $64.11 and a 200-day simple moving average of $57.86.

Insider Activity at GitLab

In other GitLab news, Director Karen Blasing sold 3,250 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $58.99, for a total transaction of $191,717.50. Following the transaction, the director now directly owns 134,733 shares in the company, valued at $7,947,899.67. This trade represents a 2.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian G. Robins sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $67.59, for a total value of $675,900.00. Following the completion of the transaction, the chief financial officer now directly owns 242,803 shares in the company, valued at $16,411,054.77. The trade was a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 740,257 shares of company stock valued at $44,710,867. 21.36% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GTLB. Macquarie reissued an “outperform” rating and set a $90.00 target price on shares of GitLab in a research note on Wednesday, January 15th. Scotiabank increased their price objective on GitLab from $65.00 to $75.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th. Robert W. Baird increased their price objective on GitLab from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Cantor Fitzgerald upped their target price on GitLab from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, KeyCorp upped their target price on GitLab from $74.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, GitLab presently has an average rating of “Moderate Buy” and a consensus price target of $76.62.

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.