GitLab Inc. (NASDAQ:GTLB) saw a downside of -1.65% to $46.57 after subtracting -$0.78 on Wednesday. The 5-day average trading volume is 1,126,626 shares of the company’s common stock. It has gained $49.39 in the past week and touched a new high 4 times within the past 5 days. An average of 1,440,072 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,960,669.
GTLB’s 1-month performance is -1.62% or $0.15 on its low of $37.35 reached on 01/06/23. The company’s shares have touched a 52-week low of $30.74 and high of $80.84, with the stock’s rally to the 52-week high happening on 01/24/23. YTD, GTLB has achieved 4.20% or $0.84 and has reached a new high 5 times. However, the current price is down -42.39% from the 52-week high price.
GTLB stock investors last saw insider trading activity on Jan 05.Brown Dale R (Principal Accounting Officer) most recently sold 894 shares at $41.66 per share on Jan 05. This transaction cost the insider $37,244. Chief Revenue Officer, McBride Michael Eugene, sold 6,832 shares at a price of $45.70 on Jan 03. Then, on Dec 27, 10% Owner Makan Divesh sold 53,676 shares at a price of $44.65 per share. This transaction amounted to $2,396,527.
Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 17.86 while the price-to-book (PB) in the most recent quarter is 9.23.
GitLab Inc.’s quick ratio for the period ended October 30 was 4.00, with the current ratio over the same period at 4.00. In terms of profitability, the gross margin trailing 12 months is 87.70%. The firm’s gross profit as reported stood at $222.67 million against revenue of $252.65 million.
For the quarterly period ending October 30 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 14.92% to -$48.46 million, while revenue of -$59.02 million was -21.79% off the previous quarter. Analysts expected GTLB to announce -$0.15 per share in earnings in its latest quarter, but it posted -$0.1, representing a 33.30% surprise. EBITDA for the quarter stood at more than -$46.44 million. Shareholders hold equity totaling $149.7 million.
Let’s look briefly at GitLab Inc. (GTLB) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 24 January was 53.96% to suggest the stock is trending Neutral, with historical volatility in this time period at 56.20%.
The stock’s 5-day moving average is $46.60, reflecting a -0.61% or -$0.28 change from its current price. GTLB is currently trading +0.31% above its 20-day SMA, -22.71% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +7.64% and SMA200 by-7.21%.
Stochastic %K and %D was 84.94% and 83.42% and the average true range (ATR) pointed at 2.98. The RSI (14) points at 53.22%, while the 14-day stochastic is at 74.14% with the period’s ATR at 3.03. The stock’s 9-day MACD Oscillator is pointing at 1.28 and 3.39 on the 14-day charts.
In the most recent analyst report for GitLab Inc. (NASDAQ: GTLB), FBN Securities launched coverage with an Outperform rating. Analysts offering their rating for GTLB stock have a consensus rating for the stock as Buy. Currently, 0 brokerage advisors rate GTLB as a “sell,”, while 1 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 14 have offered a “buy” rating.
What is GTLB’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $45.00 and a high of $101.00, with their median price target at $60.00. Looking at these predictions, the average price target given by analysts is for GitLab Inc. (GTLB) stock is $65.64.