GitLab (GTLB) to Release Quarterly Earnings on Thursday

GitLab (NASDAQ:GTLB) will be posting its quarterly earnings results after the market closes on Thursday, December 5th. Analysts expect GitLab to post earnings of $0.16 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

GitLab (NASDAQ:GTLB) last released its earnings results on Tuesday, September 3rd. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.05. GitLab had a negative return on equity of 15.40% and a negative net margin of 54.62%. The business had revenue of $182.58 million during the quarter, compared to the consensus estimate of $176.86 million. During the same period last year, the business posted ($0.29) earnings per share. The business’s revenue for the quarter was up 30.8% on a year-over-year basis. On average, analysts expect GitLab to post $0 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

GitLab Price Performance

Shares of NASDAQ GTLB opened at $63.80 on Thursday. The stock has a market capitalization of $10.24 billion, a PE ratio of -27.26 and a beta of 0.45. GitLab has a one year low of $40.72 and a one year high of $78.53. The business’s fifty day moving average price is $56.14 and its 200-day moving average price is $51.82.

Analyst Ratings Changes

A number of equities analysts have weighed in on GTLB shares. UBS Group increased their target price on shares of GitLab from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. KeyCorp raised their price objective on shares of GitLab from $62.00 to $74.00 and gave the stock an “overweight” rating in a report on Tuesday. Scotiabank lifted their price objective on shares of GitLab from $59.00 to $65.00 and gave the company a “sector outperform” rating in a research note on Wednesday, September 4th. Cantor Fitzgerald upgraded GitLab to a “strong-buy” rating in a research report on Tuesday, November 12th. Finally, Morgan Stanley started coverage on GitLab in a research report on Wednesday, October 9th. They issued an “overweight” rating and a $70.00 price target for the company. Three research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, GitLab presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.17.

Insider Activity at GitLab

In other GitLab news, CEO Sytse Sijbrandij sold 84,776 shares of GitLab stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $59.64, for a total transaction of $5,056,040.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Karen Blasing sold 3,250 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $59.41, for a total transaction of $193,082.50. Following the completion of the sale, the director now owns 137,983 shares of the company’s stock, valued at approximately $8,197,570.03. The trade was a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 185,033 shares of company stock valued at $10,569,356 over the last 90 days. 21.36% of the stock is owned by insiders.

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.