GitLab Inc. (GTLB): Find Out What Insiders Are Doing


GitLab Inc. (NASDAQ:GTLB) finished Wednesday with a subtraction of -$0.49 to close at $43.46, a downside of -1.11 percent. An average of 1,192,820 shares of common stock have been traded in the last five days. There was a fall of -$3.00 in the past week, and it reached a new high 1 time over the past 12 months. The last 20 days have seen an average of 2,835,810 shares traded, while the 50-day average volume stands at 2,050,900.

GTLB stock has increased by 11.87% in the last month. The company shares reached their 1-month lowest point of $36.20 on 11/30/22. With the stock rallying to its 52-week high on 01/03/22, shares of the company touched a low of $30.74 and a high of $94.88 in 52 weeks. It has reached a new high 1 time so far this year and lost -50.05% or -$43.54 in price. In spite of this, the price is down -54.19% from the 52-week high.

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Insider Transactions

GTLB stock investors should be aware that GitLab Inc. (GTLB) stock had its last reported insider trading activity 21 days ago on Dec 08. In this transaction, the insider spent $307,440. Chief Revenue Officer, McBride Michael Eugene, disposed of 6,832 shares at a price of $47.35 on Nov 01. The insider now owns more than $323,527 worth of shares. Prior to that, Principal Accounting Officer Brown Dale R went on to Sale 3,574 shares at $53.46 each on Oct 06. An amount of $191,066 was transacted.

Valuation Metrics

GitLab Inc. (GTLB) has a trailing price-to-sales (P/S) ratio at 17.06, the price-to-book (PB) ratio at 8.47.

Financial Health

The quick ratio of GitLab Inc. for the three months ended October 30 was 4.00, and the current ratio was 4.00, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the quarter ending October 30. Its gross profit as reported stood at $222.67 million compared to revenue of $252.65 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, GitLab Inc.’s return on assets was -16.20%.

Earnings Surprise

In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$48.46 million in the quarter, while revenues were grew 14.92%. The analyst consensus anticipated GitLab Inc.’s latest quarter earnings to come in at -$0.15 per share, but it turned out to be -$0.1, a 33.30% surprise. For the quarter, EBITDA amounted to -$46.44 million. At the end of the quarter ending October 30, GitLab Inc.’s stock balance sheet showed total liabilities of 305.55 million. Shareholders own equity worth $149.7 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at GitLab Inc. (GTLB) price momentum. RSI 9-day as of the close on 28 December was 42.47%, suggesting the stock is Neutral, with historical volatility in this time frame at 63.38%.

As of today, GTLB’s price is $45.51 -6.46% or -$3.00 from its 5-day moving average. GTLB is currently trading +13.21% higher than its 20-day SMA and -33.98% lower than its 100-day SMA. However, the stock’s current price level is -3.47% below the SMA50 and +31.30% above the SMA200.

The stochastic %K and %D were 31.34% and 41.61%, respectively, and the average true range (ATR) was 3.13. With the 14-day stochastic at 18.42% and the average true range at 3.31, the RSI (14) stands at 46.46%. The stock has reached -1.91 on the 9-day MACD Oscillator while the 14-day reading was at -2.62.

Analyst Ratings

Barclays launched coverage on GitLab Inc. (NASDAQ: GTLB) in its analyst report released on December 15, 2022. The firm assigned the stock an Overweight rating. The consensus rating for GitLab Inc. (GTLB) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell GTLB, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 13 others rate it as a “buy”.

What is GTLB’s price target for the next 12 months?

Analysts predict a range of price targets between $45.00 and $101.00, with a median target of $60.00. Taking a look at these predictions, the average price target given by analysts for GitLab Inc. (GTLB) stock is $67.77.


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