GitLab (NASDAQ:GTLB) Updates Q4 Earnings Guidance

GitLab (NASDAQ:GTLB) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.22-0.23 for the period, compared to the consensus earnings per share estimate of $0.14. The company issued revenue guidance of $205-206 million, compared to the consensus revenue estimate of $204.42 million. GitLab also updated its FY 2025 guidance to 0.630-0.640 EPS.

GitLab Price Performance

NASDAQ GTLB traded down $0.52 during trading hours on Thursday, reaching $66.04. The stock had a trading volume of 5,829,238 shares, compared to its average volume of 2,338,455. The stock has a fifty day moving average of $57.31 and a 200 day moving average of $52.12. GitLab has a 52-week low of $40.72 and a 52-week high of $78.53.

GitLab (NASDAQ:GTLB) last issued its earnings results on Tuesday, September 3rd. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. The firm had revenue of $182.58 million for the quarter, compared to analyst estimates of $176.86 million. GitLab had a negative return on equity of 15.40% and a negative net margin of 54.62%. GitLab’s revenue for the quarter was up 30.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.29) earnings per share. On average, sell-side analysts expect that GitLab will post -0.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GTLB shares. Needham & Company LLC upgraded GitLab from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research report on Monday, October 21st. Robert W. Baird upped their price objective on GitLab from $59.00 to $62.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. KeyCorp upped their price objective on GitLab from $62.00 to $74.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. TD Cowen upped their target price on GitLab from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, Wells Fargo & Company upped their target price on GitLab from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $67.58.

Insider Activity

In related news, CFO Brian G. Robins sold 16,668 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $53.67, for a total value of $894,571.56. Following the sale, the chief financial officer now owns 250,109 shares of the company’s stock, valued at $13,423,350.03. This trade represents a 6.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Erin Mannix sold 1,433 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $52.80, for a total transaction of $75,662.40. Following the transaction, the chief accounting officer now directly owns 72,448 shares of the company’s stock, valued at $3,825,254.40. The trade was a 1.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 185,033 shares of company stock worth $10,569,356 over the last three months. 21.36% of the stock is currently owned by corporate 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.