GitLab Inc. to Post FY2025 Earnings of ($1.15) Per Share, KeyCorp Forecasts (NASDAQ:GTLB)

GitLab Inc. (NASDAQ:GTLBGet Rating) – Equities research analysts at KeyCorp issued their FY2025 earnings estimates for shares of GitLab in a research report issued on Wednesday, September 7th. KeyCorp analyst M. Turits forecasts that the company will earn ($1.15) per share for the year. The consensus estimate for GitLab’s current full-year earnings is ($1.38) per share.

GitLab (NASDAQ:GTLBGet Rating) last announced its earnings results on Tuesday, September 6th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.08. GitLab had a negative net margin of 51.69% and a negative return on equity of 20.93%. The firm had revenue of $101.00 million for the quarter, compared to analyst estimates of $94.44 million. The company’s revenue was up 73.8% on a year-over-year basis.

Several other analysts have also issued reports on the stock. Needham & Company LLC reduced their price target on shares of GitLab from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday. Piper Sandler increased their price target on shares of GitLab from $60.00 to $67.00 in a research report on Wednesday, July 13th. UBS Group increased their price target on shares of GitLab to $72.00 in a research report on Tuesday, September 6th. Scotiabank initiated coverage on shares of GitLab in a research report on Wednesday, June 8th. They set an “outperform” rating and a $62.00 price target on the stock. Finally, The Goldman Sachs Group upgraded shares of GitLab from a “neutral” rating to a “buy” rating and increased their price target for the stock from $69.00 to $80.00 in a research report on Monday, June 27th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $78.50.

GitLab Trading Up 4.9 %

NASDAQ GTLB opened at $57.98 on Friday. The firm has a market capitalization of $8.56 billion and a price-to-earnings ratio of -38.14. The firm’s 50 day simple moving average is $59.35 and its 200 day simple moving average is $51.68. GitLab has a 1 year low of $30.74 and a 1 year high of $137.00.

Insider Activity

In other news, major shareholder Howard Hartenbaum sold 18,453 shares of the firm’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $64.63, for a total transaction of $1,192,617.39. Following the completion of the transaction, the insider now owns 150,000 shares of the company’s stock, valued at $9,694,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Howard Hartenbaum sold 18,453 shares of GitLab stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $64.63, for a total transaction of $1,192,617.39. Following the completion of the transaction, the insider now owns 150,000 shares of the company’s stock, valued at $9,694,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder August Capital Management Vii, sold 43,573 shares of GitLab stock in a transaction on Friday, July 8th. The stock was sold at an average price of $57.54, for a total transaction of $2,507,190.42. Following the transaction, the insider now directly owns 42,454 shares of the company’s stock, valued at approximately $2,442,803.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 193,196 shares of company stock valued at $11,762,380.

Hedge Funds Weigh In On GitLab

A number of hedge funds have recently bought and sold shares of the company. Legal & General Group Plc bought a new position in GitLab during the second quarter worth $679,000. Walleye Capital LLC bought a new position in GitLab during the second quarter worth $359,000. Goldman Sachs Group Inc. raised its stake in GitLab by 7,180.6% during the second quarter. Goldman Sachs Group Inc. now owns 1,925,063 shares of the company’s stock worth $102,298,000 after buying an additional 1,898,622 shares during the last quarter. Infini Capital Management Ltd acquired a new stake in GitLab in the second quarter worth $76,000. Finally, Advisory Research Inc. grew its holdings in GitLab by 185.7% in the second quarter. Advisory Research Inc. now owns 12,503 shares of the company’s stock worth $664,000 after purchasing an additional 8,127 shares during the period. Institutional investors own 42.66% of the company’s stock.

GitLab Company Profile

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GitLab Inc, through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. The company 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.

See Also

Earnings History and Estimates for GitLab (NASDAQ:GTLB)

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