GitLab (NASDAQ:GTLB) Issues Q2 Earnings Guidance

GitLab (NASDAQ:GTLB) updated its second quarter earnings guidance on Monday. The company provided EPS guidance of $0.09 – $0.10 for the period, compared to the consensus EPS 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.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Royal Bank of Canada reiterated an outperform rating and issued a $65.00 price target on shares of GitLab in a research note on Thursday, July 18th. Wells Fargo & Company began coverage on shares of GitLab in a research report on Tuesday, April 9th. They set an overweight rating and a $70.00 price objective on the stock. BTIG Research cut their price objective on shares of GitLab from $71.00 to $58.00 and set a buy rating on the stock in a research report on Tuesday, June 4th. Barclays cut their price objective on shares of GitLab from $55.00 to $50.00 and set an equal weight rating on the stock in a research report on Tuesday, June 4th. Finally, Raymond James raised shares of GitLab from a market perform rating to an outperform rating and set a $70.00 price objective on the stock in a research report on Friday, April 12th. Four investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, GitLab presently has an average rating of Moderate Buy and a consensus price target of $67.30.

GitLab Trading Down 10.6 %

Shares of NASDAQ GTLB opened at $42.67 on Tuesday. GitLab has a twelve month low of $40.19 and a twelve month high of $78.53. The stock has a 50 day moving average of $49.10 and a two-hundred day moving average of $57.27. The stock has a market cap of $6.78 billion, a P/E ratio of -15.52 and a beta of 0.46.

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

Insider Buying and Selling at GitLab

In other GitLab news, CFO Brian G. Robins sold 23,332 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $49.24, for a total value of $1,148,867.68. Following the sale, the chief financial officer now owns 259,109 shares of the company’s stock, valued at $12,758,527.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Brian G. Robins sold 23,332 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $49.24, for a total transaction of $1,148,867.68. Following the transaction, the chief financial officer now directly owns 259,109 shares in the company, valued at $12,758,527.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sytse Sijbrandij sold 56,000 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $48.99, for a total value of $2,743,440.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 140,275 shares of company stock valued at $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.