In the latest trading session, 0.36 million Gitlab Inc (NASDAQ:GTLB) shares changed hands as the company’s beta touched 0.73. With the company’s most recent per share price at $49.85 changed hands at -$2.09 or -4.02% at last look, the market valuation stands at $8.01B. GTLB’s current price is a discount, trading about -48.81% off its 52-week high of $74.18. The share price had its 52-week low at $40.72, which suggests the last value was 18.31% up since then. When we look at Gitlab Inc’s average trading volume, we note the 10-day average is 3.49 million shares, with the 3-month average coming to 2.93 million.
Analysts gave the Gitlab Inc (GTLB) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.39. If we narrow down to specifics, the data shows that 0 out of 21 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 5 recommended GTLB as a Hold, 16 felt it is a Buy and 0 rated the stock as Underweight. Gitlab Inc’s EPS for the current quarter is expected to be 0.15.
Gitlab Inc (NASDAQ:GTLB) trade information
Instantly GTLB was in red as seen in intraday trades today. With action -4.02%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -11.54%, with the 5-day performance at -4.02% in the red. However, in the 30-day time frame, Gitlab Inc (NASDAQ:GTLB) is -26.51% down. Looking at the short shares, we see there were 8.82 million shares sold at short interest cover period of 3.05 days.
The consensus price target for the stock as assigned by Wall Street analysts is 75, meaning bulls need an upside of 33.53% from its recent market value. According to analyst projections, GTLB’s forecast low is 70 with 76 as the target high. To hit the forecast high, the stock’s price needs a -52.46% plunge from its current level, while the stock would need to soar -40.42% for it to hit the projected low.
Gitlab Inc (GTLB) estimates and forecasts
Year-over-year growth is forecast to reach 24.41% up from the last financial year.
Consensus estimates given by 25 financial analysts project the company’s revenue in the current quarter to hit an average of 213.25M. 25 analysts are of the opinion that Gitlab Inc’s revenue for the current quarter will be 227.56M. The company’s revenue for the corresponding quarters a year ago was 169.19M and 182.58M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 26.04%. The estimates for the next quarter sales put growth at 24.63%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 55.90%. The 2025 estimates are for Gitlab Inc earnings to decrease by -3.08%, but the outlook for the next 5-year period is at 18.48% per year.
Gitlab Inc (NASDAQ:GTLB)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 4.17% of Gitlab Inc shares while 82.89% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 86.50%. There are 82.89% institutions holding the Gitlab Inc stock share, with VANGUARD GROUP INC the top institutional holder. As of 2024-06-30, the company held 7.2539% of the shares, roughly 11.47 million GTLB shares worth $570.41 million.
ALPHABET INC. holds the second largest percentage of outstanding shares, with 6.1113% or 9.76 million shares worth $485.18 million as of 2024-06-30.
Among Mutual Funds, the top two as of Dec 31, 2024 were Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. With 3.86 shares estimated at $194.09 million under it, the former controlled 2.74% of total outstanding shares. On the other hand, Vanguard Small-Cap Index Fund held about 2.22% of the shares, roughly 3.13 shares worth around $157.24 million.
