In today’s recent session, 1.32 million shares of the Gitlab Inc (NASDAQ:GTLB) have been traded, and its beta is 0.46. Most recently the company’s share price was $52.15, and it changed around $2.18 or 4.36% from the last close, which brings the market valuation of the company to $8.37B. GTLB at last check was trading at a discount to its 52-week high of $78.53, offering almost -50.58% off that amount. The share price’s 52-week low was $40.19, which indicates that the recent value has risen by an impressive 22.93% since then. We note from Gitlab Inc’s average daily trading volume that its 10-day average is 1.09 million shares, with the 3-month average coming to 2.12 million.

Gitlab Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.50. If we narrow it down even further, the data shows that 0 out of 26 analysts rate the stock as a Sell; another 5 rate it as Overweight. Among the rest, 6 recommended GTLB as a Hold, whereas 15 deemed it a Buy, and 0 rated it as Underweight. Gitlab Inc is expected to report earnings per share of 0.15 for the current quarter.

Gitlab Inc (NASDAQ:GTLB) trade information

Instantly GTLB has been showing a green trend so far today with a performance of 4.36% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 53.99 on recent trading dayincreased the stock’s daily price by 3.41%. The company’s shares are currently down -17.17% year-to-date, but still up 3.82% over the last five days. On the other hand, Gitlab Inc (NASDAQ:GTLB) is -7.21% down in the 30-day period. We can see from the shorts that 4.03 million shares have been sold at a short interest cover period of 1.71 day(s).

The consensus price target as assigned by Wall Street analysts is $62, which translates to bulls needing to increase their stock price by 15.89% from its current value. Analyst projections state that GTLB is forecast to be at a low of $45.56 and a high of $80.

Gitlab Inc (GTLB) estimates and forecasts

Gitlab Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -10.01 percent over the past six months and at a 130.00% annual growth rate that is well above the industry average of 18.80%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 66.70% in revenue this quarter, and will report a decrease of -6.70% in the next quarter. The year-over-year growth rate is expected to be 28.30%, up from the previous year.

Consensus estimates provided by 24 financial analysts predict the company will bring in an average of 187.87M in revenue for the current quarter. 24 analysts expect Gitlab Inc to make 204.34M in revenue for the current ending quarter. Forecasts for the next quarter put sales growth at 24.80%.

Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -31.81%. Gitlab Inc earnings are expected to increase by 134.22% in 2024, but the outlook is positive 30.00% per year for the next five years.

GTLB Dividends

Gitlab Inc’s next quarterly earnings report is expected to be released on 2024-Sep-03.

Gitlab Inc (NASDAQ:GTLB)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 3.77% of Gitlab Inc shares, and 80.62% of them are in the hands of institutional investors. The stock currently has a share float of 83.78%. Gitlab Inc stock is held by 514.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-06-30, it held 7.2539% of the shares, which is about 11.47 million shares worth $570.41 million.

ALPHABET INC., with 6.17% or 9.76 million shares worth $485.18 million as of 2024-06-30, holds the second largest percentage of outstanding shares.