GitLab Inc. (NASDAQ: GTLB) Has Lost -27.21% YTD: Is There Trouble Ahead? – Marketing Sentinel
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GitLab Inc. (NASDAQ: GTLB) Has Lost -27.21% YTD: Is There Trouble Ahead?

During the last session, GitLab Inc. (NASDAQ:GTLB)’s traded shares were 1.32 million. At the end of the trading day, the stock’s price was $63.33, reflecting an intraday gain of 0.97% or $0.61. The 52-week high for the GTLB share is $137.00, that puts it down -116.33 from that peak though still a striking 51.46% gain since the share price plummeted to a 52-week low of $30.74. The company’s market capitalization is $8.96B, and the average intraday trading volume over the past 10 days was 1.31 million shares, and the average trade volume was 1.88 million shares over the past three months.

GitLab Inc. (GTLB) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.90. GTLB has a Sell rating from 0 analyst(s) out of 12 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 11 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.23.

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GitLab Inc. (NASDAQ:GTLB) trade information

GitLab Inc. (GTLB) registered a 0.97% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 0.97% in intraday trading to $63.33 this Thursday, 08/04/22, hitting a weekly high. The stock’s 5-day price performance is 14.11%, and it has moved by 13.07% in 30 days. The short interest in GitLab Inc. (NASDAQ:GTLB) is 5.77 million shares and it means that shorts have 3.03 day(s) to cover.

The consensus price target of analysts on Wall Street is $67.57, which implies an increase of 6.27% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $55.72 and $95.00 respectively. As a result, GTLB is trading at a discount of -50.01% off the target high and 12.02% off the low.

GitLab Inc. (GTLB) estimates and forecasts

Statistics show that GitLab Inc. has outperformed its competitors in share price, compared to the industry in which it operates. GitLab Inc. (GTLB) shares have gone down -1.08% during the last six months, with a year-to-date growth rate more than the industry average at 24.17% against 3.20. In the rating firms’ projections, revenue will increase 59.50% compared to the previous financial year.

Revenue for the current quarter is expected to be $94.45 million as predicted by 11 analyst(s). Meanwhile, a consensus of 11 analyst(s) estimates revenue growth to $103.54 million by the end of Oct 2022.

While earnings are projected to return -44.70% in 2022, the next five years will return 25.80% per annum.

GTLB Dividends

GitLab Inc. is due to release its next quarterly earnings on December 06. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

GitLab Inc. (NASDAQ:GTLB)’s Major holders

GitLab Inc. insiders own 2.58% of total outstanding shares while institutional holders control 57.66%, with the float percentage being 59.19%. ICONIQ Capital, LLC is the largest shareholder of the company, while 204 institutions own stock in it. As of Mar 30, 2022, the company held over 9.77 million shares (or 0.16% of all shares), a total value of $532.16 million in shares.

The next largest institutional holding, with 2.82 million shares, is of Blackrock Inc.’s that is approximately 0.05% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $153.63 million.

Also, the Mutual Funds coming in first place with the largest holdings of GitLab Inc. (GTLB) shares are BlackRock Innovation and Growth Trust and BlackRock Science & Technology Trust II (BSTZ). Data provided on Mar 30, 2022 indicates that BlackRock Innovation and Growth Trust owns about 0.91 million shares. This amounts to just over 0.02 percent of the company’s overall shares, with a $49.54 million market value. The same data shows that the other fund manager holds slightly less at 0.63 million, or about 0.01% of the stock, which is worth about $34.11 million.

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