Gitlab Inc [GTLB] stock is trading at $57.22, up 2.95%. In order to assess the stock’s recent performance, you can check whether its short-term value is rising or falling. The GTLB shares have gain 2.78% over the last week, with a monthly amount drifted -18.47%, and not seem to be holding up well over a long-time horizon.
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On 20, March 2024, GitLab Acquires Oxeye to Advance Application Security & Governance Capabilities. In a post published today on Yahoo Finance, Already recognized as the only Leader in Integrated Software Delivery Platforms by an independent research firm, GitLab’s DevSecOps platform combines best-in-class, robust security, governance, and AI/ML across the software development lifecycle.
From an analyst’s perspective:
Gitlab Inc [NASDAQ: GTLB] stock has seen the most recent analyst activity on March 19, 2024, when KeyBanc Capital Markets initiated its Overweight rating and assigned the stock a price target of $70. Previously, Wolfe Research upgraded its rating to Outperform on March 06, 2024, and kept the price target unchanged to $75. On January 08, 2024, upgrade upgraded it’s rating to Buy but maintained its price target of $73 on the stock. Raymond James started tracking the stock assigning a Mkt Perform rating. Cantor Fitzgerald initiated its recommendation with a Overweight and recommended $55 as its price target on November 22, 2023. Barclays downgraded its rating to Equal Weight for this stock on November 17, 2023, and downed its price target to $50. In a note dated November 13, 2023, BTIG Research initiated an Buy rating and provided a target price of $56 on this stock.
Gitlab Inc [GTLB] stock has fluctuated between $26.24 and $78.53 over the past year. Currently, Wall Street analysts expect the stock to reach $64.69 within the next 12 months. Gitlab Inc [NASDAQ: GTLB] shares were valued at $57.22 at the most recent close of the market. An investor can expect a potential return of 13.05% based on the average GTLB price forecast.
Analyzing the GTLB fundamentals
Gitlab Inc [NASDAQ:GTLB] reported sales of 579.91M for the trailing twelve months, which represents a growth of 33.25%. Gross Profit Margin for this corporation currently stands at 0.9% with Operating Profit Margin at -0.32%, Pretax Profit Margin comes in at -0.28%, and Net Profit Margin reading is -0.73%. To continue investigating profitability, this company’s Return on Assets is posted at -0.32, Equity is -0.64 and Total Capital is -0.28. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.0.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 55.64 points at the first support level, and at 54.05 for the second support level. However, for the 1st resistance point, the stock is sitting at 58.12, and for the 2nd resistance point, it is at 59.01.
Gitlab Inc [GTLB] reported earnings per share of $0.15 for its fiscal quarter that ended on 1/30/2024. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.08/share, meaning a difference of $0.07 and a surprise factor of 87.50%. By comparison, the stated earnings for the previous quarter ended on 10/30/2023 were $0.09 per share as compared to estimates of -$0.01 per share, a difference of $0.1 representing a surprise of 1,000.00%.
Ratios To Look Out For
For context, Gitlab Inc’s Current Ratio is 1.89. In addition, the Quick Ratio stands at 1.97 and the Cash Ratio stands at 0.43. Considering the valuation of this stock, the price to sales ratio is 15.55, the price to book ratio is 15.78.
Transactions by insiders
Recent insider trading involved Sijbrandij Sytse, Chief Executive Officer, that happened on Mar 18 ’24 when 75000.0 shares were sold. Chief Executive Officer, Sijbrandij Sytse completed a deal on Mar 15 ’24 to sell 0.23 million shares. Meanwhile, Chief Executive Officer Sijbrandij Sytse sold 0.38 million shares on Feb 14 ’24.
