GitLab (GTLB) to Release Earnings on Monday

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

GitLab Price Performance

Shares of NASDAQ:GTLB opened at $64.12 on Monday. The firm has a market capitalization of $10.41 billion, a PE ratio of -200.38 and a beta of 0.63. The business has a 50-day moving average of $64.11 and a two-hundred day moving average of $57.86. GitLab has a 12 month low of $40.72 and a 12 month high of $76.41.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on GTLB shares. Scotiabank increased their target price on shares of GitLab from $65.00 to $75.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. increased their price objective on shares of GitLab from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Cantor Fitzgerald increased their price target on GitLab from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, December 6th. KeyCorp increased 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. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $85.00 price target on shares of GitLab in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $76.62.

Insiders Place Their Bets

In other GitLab news, insider Robin Schulman sold 2,996 shares of GitLab stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $55.98, for a total value of $167,716.08. Following the completion of the transaction, the insider now directly owns 129,223 shares in the company, valued at $7,233,903.54. The trade was a 2.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brian G. Robins sold 10,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $70.83, for a total transaction of $708,300.00. Following the transaction, the chief financial officer now directly owns 267,380 shares of the company’s stock, valued at approximately $18,938,525.40. This trade represents a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 740,257 shares of company stock valued at $44,710,867 over the last 90 days. 21.36% of the stock is owned by company insiders.

About GitLab

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.