At the last check on Friday, GitLab Inc.’s (NASDAQ:GTLB) stock was up $0.71, moving up 1.65 percent to $43.72. The average number of shares traded per day over the past five days has been 1,057,096 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.34 fall in that time frame. In the last twenty days, the average volume was 1,182,074, while in the previous 50 days, it was 1,947,362.
Since last month, GTLB stock retreated -12.05%. Shares of the company fell to $41.61 on 08/18/23, the lowest level in the past month. A 52-week high of $66.23 was reached on 02/02/23 after having rallying from a 52-week low of $26.24. Since the beginning of this year, GTLB’s stock price has dropped by -3.79% or -$1.81, and marked a new high 9 times. However, the stock has declined by -33.99% since its 52-week high.
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GTLB stock investors should be aware that GitLab Inc. (GTLB) stock had its last reported insider trading activity 2 days ago on Aug 16. Sijbrandij Sytse, the Chief Executive Officer of the company, disposed of 10,707 shares for $45.57 on Aug 16. It resulted in a $487,959 divestment by the insider. Sijbrandij Sytse sold 144,293 shares at an average price of $45.13 on Aug 15. The insider now owns 0 shares following the transaction. On Aug 15, Chief Financial Officer ROBINS BRIAN G sold 10,000 shares at $45.12 apiece. The transaction was valued at $451,200.
Valuation Metrics
The stock’s beta is 0.24. Besides these, the trailing price-to-sales (P/S) ratio of 14.24, the price-to-book (PB) ratio of 8.66.
Financial Health
In the three months ended April 29, GitLab Inc.’s quick ratio stood at 3.60, while its current ratio was 3.60, showing that the company is able to pay off its debt. On the profitability front, the trailing twelve-month gross margin is 88.00% percent. In the year ended April 29, EBITDA margin amounted to -48.64%, whereas operating margins totaled -48.90%. Based on annual data, GTLB earned $372.66 million in gross profit and brought in $424.34 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -25.50%. Return on equity (ROE) for the past 12 months was -25.80%.
According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. GTLB’s revenue rose 31.11% to $122.91 million during the quarter, while net income inched up to $126.88 million. While analysts expected GitLab Inc. to report -$0.14 quarterly earnings, the actual figure was -$0.06 per share, beating the consensus estimate by 57.10%. During the quarter, the company generated -$49.61 million in EBITDA. The liabilities of GitLab Inc. were 348.51 million at the end of its most recent quarter ended April 29, and its total debt was $1.44 million. The value of shareholders’ equity is $152.8 million.
Technical Picture
This quick technical analysis looks at GitLab Inc.’s (GTLB) price momentum. With a historical volatility rate of 43.84%, the RSI 9-day stood at 37.24% on 17 August.
With respect to its five-day moving average, the current GitLab Inc. price is down by -0.77% percent or -$0.34. At present, GTLB shares trade -12.74% below its 20-day simple moving average and +28.55% percent above its 100-day simple moving average. However, the stock is currently trading approximately -7.33% below its SMA50 and -9.97% below its SMA200.
Stochastic coefficient K was 21.62% and Stochastic coefficient D was 26.74%, while ATR was 2.14. Given the Stochastic reading of 26.13% for the 14-day period, the RSI (14) reading has been calculated as 40.13%. As of today, the MACD Oscillator reading stands at -0.48, while the 14-day reading stands at -1.48.
Analyst Ratings
Wolfe Research launched its rating on GitLab Inc. (NASDAQ: GTLB) to a Peer perform in a note to investors on June 20, 2023. GitLab Inc. (GTLB) has been rated Overweight by analysts. According to 0 brokerage firms, GTLB is a sell, and 5 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 2 analysts rate GitLab Inc. stock as buy, with 12 recommending it as overweight.
With a median target price of $60.00, the current consensus forecast for the stock is $39.00 – $70.00. Based on these forecasts, analysts predict GitLab Inc. (GTLB) will achieve an average price target of $56.07.
