Analysts Expect Gitlab Inc (NASDAQ:GTLB) Will Post Quarterly Sales of $70.18 Million

Equities research analysts expect Gitlab Inc (NASDAQ:GTLB) to report sales of $70.18 million for the current quarter, Zacks reports. Six analysts have issued estimates for Gitlab’s earnings, with estimates ranging from $69.97 million to $70.50 million. The company is scheduled to issue its next earnings report on Monday, January 1st.

On average, analysts expect that Gitlab will report full year sales of $245.04 million for the current fiscal year, with estimates ranging from $244.83 million to $245.30 million. For the next year, analysts forecast that the company will post sales of $334.01 million, with estimates ranging from $325.04 million to $340.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Gitlab.

Gitlab (NASDAQ:GTLB) last issued its quarterly earnings results on Monday, December 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.14. The business had revenue of $66.80 million during the quarter, compared to analyst estimates of $58.87 million.

A number of research analysts recently issued reports on GTLB shares. Truist started coverage on Gitlab in a research report on Monday, November 8th. They set a “buy” rating and a $175.00 price objective for the company. The Goldman Sachs Group initiated coverage on Gitlab in a research report on Monday, November 8th. They set a “neutral” rating and a $100.00 target price on the stock. UBS Group started coverage on Gitlab in a research report on Monday, November 8th. They set a “buy” rating and a $143.00 price target on the stock. Cowen lowered their target price on Gitlab from $145.00 to $130.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 7th. Finally, Truist Securities started coverage on Gitlab in a research note on Monday, November 8th. They issued a “buy” rating and a $175.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $128.40.

In other Gitlab news, major shareholder Iconiq Strategic Partners Vi, bought 282,279 shares of the stock in a transaction that occurred on Thursday, December 9th. The shares were bought at an average price of $78.20 per share, for a total transaction of $22,074,217.80. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Matthew Jacobson bought 48,816 shares of Gitlab stock in a transaction dated Monday, December 13th. The shares were bought at an average cost of $74.64 per share, with a total value of $3,643,626.24. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 1,290,645 shares of company stock valued at $100,358,309.

GTLB stock traded down $1.47 during midday trading on Friday, hitting $64.06. 1,263,062 shares of the company’s stock were exchanged, compared to its average volume of 1,025,132. The business has a 50 day moving average of $93.55. Gitlab has a 12-month low of $63.30 and a 12-month high of $137.00.

Gitlab Company Profile

GitLab Inc is the provider of The DevOps platform, a single application that brings together development, operations, IT, security, and business teams to deliver desired business outcomes. GitLab Inc is based in SAN FRANCISCO.

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Earnings History and Estimates for Gitlab (NASDAQ:GTLB)

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