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GitLab Inc. (GTLB) Review – Making Smarter Decisions

GitLab Inc. (NASDAQ: GTLB) is -54.36% lower on its value in year-to-date trading and has touched a low of $30.74 and a high of $103.47 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The GTLB stock was last observed hovering at around $37.84 in the last trading session, with the day’s gains setting it 1.87% off its average median price target of $70.00 for the next 12 months. It is also 60.68% off the consensus price target high of $101.00 offered by 13 analysts, but current levels are 27.8% higher than the price target low of $55.00 for the same period.

Currently trading at $39.71, the stock is -6.72% and -16.81% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.65 million and changing 4.94% at the moment leaves the stock -23.31% off its SMA200. GTLB registered -58.11% loss for a year compared to 6-month gain of 7.06%.

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The stock witnessed a -22.34% loss in the last 1 month and extending the period to 3 months gives it a -39.37%, and is -9.32% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.35% over the week and 8.45% over the month.

GitLab Inc. (GTLB) has around 1630 employees, a market worth around $6.06B and $333.00M in sales. Profit margin for the company is -51.70%. Distance from 52-week low is 29.18% and -61.62% from its 52-week high. The company has generated returns on investments over the last 12 months (-16.40%).

GitLab Inc. (GTLB) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for GitLab Inc. (GTLB) is a “Buy”. 13 analysts offering their recommendations for the stock have an average rating of 1.90, where 1 rate it as a Hold and 0 think it is a “Overweight”. 12 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

GitLab Inc. is expected to release its quarterly report on 03/14/2023.The EPS is expected to shrink by -44.70% this year

GitLab Inc. (GTLB) Top Institutional Holders

The shares outstanding are 147.80M, and float is at 83.20M with Short Float at 10.39%.

GitLab Inc. (GTLB) Insider Activity

A total of 74 insider transactions have happened at GitLab Inc. (GTLB) in the last six months, with sales accounting for 37 and purchases happening 37 times. The most recent transaction is an insider purchase by GV 2021 GP, L.L.C., the company’s Member of 10% Group. SEC filings show that GV 2021 GP, L.L.C. bought 182,312 shares of the company’s common stock on Nov 09 at a price of $34.60 per share for a total of $6.31 million. Following the purchase, the insider now owns 1.29 million shares.

GitLab Inc. disclosed in a document filed with the SEC on Nov 08 that GV 2021 GP, L.L.C. (Member of 10% Group) bought a total of 39,423 shares of the company’s common stock. The trade occurred on Nov 08 and was made at $36.23 per share for $1.43 million. Following the transaction, the insider now directly holds 1.11 million shares of the GTLB stock.

Still, SEC filings show that on Nov 07, GV 2021 GP, L.L.C. (Member of 10% Group) acquired 201,897 shares at an average price of $35.16 for $7.1 million. The insider now directly holds 1,072,792 shares of GitLab Inc. (GTLB).

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