GitLab (NASDAQ:GTLB) Issues Q2 Earnings Guidance

GitLab (NASDAQ:GTLB) updated its second quarter earnings guidance on Monday. The company provided earnings per share guidance of $0.09 – $0.10 for the period, compared to the consensus earnings per share estimate of $0.10. The company issued revenue guidance of $176-177, compared to the consensus revenue estimate of $176.86 million. GitLab also updated its FY 2025 guidance to 0.340-0.370 EPS.

GitLab Trading Up 2.8 %

Shares of GitLab stock traded up $1.22 during trading hours on Wednesday, reaching $44.26. The stock had a trading volume of 456,474 shares, compared to its average volume of 2,581,371. The stock’s 50 day moving average is $48.64 and its 200 day moving average is $56.93. GitLab has a twelve month low of $40.19 and a twelve month high of $78.53. The firm has a market capitalization of $7.03 billion, a PE ratio of -15.65 and a beta of 0.46.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings results on Monday, June 3rd. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.09. The company had revenue of $169.19 million for the quarter, compared to the consensus estimate of $165.66 million. GitLab had a negative return on equity of 19.14% and a negative net margin of 68.52%. As a group, sell-side analysts predict that GitLab will post -0.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on GTLB shares. JPMorgan Chase & Co. reduced their price target on shares of GitLab from $55.00 to $50.00 and set a neutral rating for the company in a research report on Tuesday, June 4th. Raymond James raised GitLab from a market perform rating to an outperform rating and set a $70.00 price target for the company in a report on Friday, April 12th. Needham & Company LLC reaffirmed a hold rating on shares of GitLab in a research note on Wednesday, July 17th. Cantor Fitzgerald decreased their target price on shares of GitLab from $70.00 to $55.00 and set an overweight rating on the stock in a report on Tuesday, June 4th. Finally, Barclays cut their price objective on GitLab from $55.00 to $50.00 and set an equal weight rating for the company in a research report on Tuesday, June 4th. Four analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $67.30.

Insider Transactions at GitLab

In related news, CFO Brian G. Robins sold 11,667 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $43.56, for a total value of $508,214.52. Following the completion of the sale, the chief financial officer now owns 305,175 shares in the company, valued at approximately $13,293,423. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Sytse Sijbrandij sold 56,000 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $48.99, for a total value of $2,743,440.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brian G. Robins sold 11,667 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $43.56, for a total value of $508,214.52. Following the sale, the chief financial officer now directly owns 305,175 shares of the company’s stock, valued at $13,293,423. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 140,275 shares of company stock worth $6,848,847. Insiders own 21.36% of the company’s stock.

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.