In recent trading session, Gitlab Inc (NASDAQ:GTLB) saw 0.61 million shares changing hands at last check today with its beta currently measuring 0.32. Company’s recent per share price level of $47.69 trading at -$0.86 or -1.77% at last check today assigns it a market valuation of $7.37B. That most recent trading price of GTLB’s stock is at a discount of -23.09% from its 52-week high price of $58.70 and is indicating a premium of 44.98% from its 52-week low price of $26.24. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 1.61 million shares which gives us an average trading volume of 1.71 million if we extend that period to 3-months.
For Gitlab Inc (GTLB), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 1.67. Splitting up the data highlights that, out of 21 analysts covering the stock, 0 rated the stock as a Sell while 2 recommended an Overweight rating for the stock. 6 suggested the stock as a Hold whereas 13 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.01 in the current quarter.
Gitlab Inc (NASDAQ:GTLB) trade information
Upright in the red during last session for losing -1.77%, in the last five days GTLB remained trading in the green while hitting it’s week-highest on Wednesday, 11/15/23 when the stock touched $47.69 price level, adding 4.77% to its value on the day. Gitlab Inc’s shares saw a change of 4.96% in year-to-date performance and have moved 6.91% in past 5-day. Gitlab Inc (NASDAQ:GTLB) showed a performance of 2.06% in past 30-days. Number of shares sold short was 8.34 million shares which calculate 6.8 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $59.41 to the stock, which implies a rise of 19.73% to its recent value today. Analysts have been projecting $48.00 as a low price target for the stock while placing it at a high target of $70.00. It follows that stock’s current price would drop -46.78% in reaching the projected high whereas dropping to the targeted low would mean a loss of -0.65% for stock’s current value.
Gitlab Inc (GTLB) estimates and forecasts
Statistics highlight that Gitlab Inc is scoring comparatively higher than the scores of other players of the relevant industry. The company added 45.98% of value to its shares in past 6 months, showing an annual growth rate of 84.78% while that of industry is 18.50. Apart from that, the company came raising its revenue forecast for fiscal year 2023. The company is estimating its revenue growth to increase by 90.00% in the current quarter and calculating 66.70% increase in the next quarter. This year revenue growth is estimated to rise 31.60% from the last financial year’s standing.
20 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $141.53 million for the same. And 20 analysts are in estimates of company making revenue of $150.31 million in the next quarter that will end on Jan 2024.
In 2023, company’s earnings growth rate is likely to be around 87.29% while estimates for its earnings growth in next 5 years are of 38.10%.
Gitlab Inc is more likely to be releasing its next quarterly report on December 04 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Gitlab Inc (NASDAQ:GTLB)’s Major holders
Insiders are in possession of 5.92% of company’s total shares while institution are holding 82.63 percent of that, with stock having share float percentage of 87.83%. Investors also watch the number of corporate investors in a company very closely, which is 82.63% institutions for Gitlab Inc that are currently holding shares of the company. Morgan Stanley is the top institutional holder at GTLB for having 9.6 million shares of worth $490.89 million. And as of Jun 29, 2023, it was holding 9.23% of the company’s outstanding shares.
The second largest institutional holder is Vanguard Group Inc, which was holding about 7.79 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 7.48% of outstanding shares, having a total worth of $397.98 million.
On the other hand, Smallcap World Fund and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 3.48 million shares of worth $177.85 million or 3.34% of the total outstanding shares. The later fund manager was in possession of 2.54 million shares on Jun 29, 2023, making its stake of worth around $129.87 million in the company or a holder of 2.44% of company’s stock.