The stock of GitLab Inc. (NASDAQ:GTLB) increased by $1.24 on Friday to finish at $45.19, up 2.82 percent. The last five days have seen an average of 974,680 shares of common stock traded. 9 times new highs were reached in the current year, with a fall of -$0.25. The average number of shares traded over the last 20 days was 1,156,870, while the average volume over the last 50 days totaled 1,718,160.
GTLB stock dropped -3.59% since last month. On 08/18/23, the company’s shares reached a one-month low of $41.61. The stock touched a high of $66.23 on 02/02/23, after rallying from a low of $26.24 in 52 weeks. The price of GTLB stock has declined by -0.55% or -$0.25 this year, reaching a new high 9 times. Still, the stock price is down -31.77% 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 12 days ago on Aug 16. On Aug 16, Chief Executive Officer Sijbrandij Sytse sold 10,707 shares at $45.57 each. This transaction resulted in the insider making $487,959. On Aug 15, Sijbrandij Sytse sold 144,293 shares at a price of US$45.13. After the transaction, the insider now owns 0 shares. Chief Financial Officer ROBINS BRIAN G had earlier sold 10,000 shares on Aug 15 for $45.12 a share. The transaction was completed for $451,200.
Valuation Metrics
Beta for the stock is 0.23. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 14.48, the price-to-book (PB) ratio of 8.95.
Financial Health
For the three months ended April 29, GitLab Inc.’s quick ratio was 3.60, while its current ratio was 3.60, indicating its ability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 88.00% percent. GitLab Inc.’s EBITDA margin for the year ended April 29 was -48.64%, whereas its operating margin stood at -48.90% for the same period. Based on annual data, it had gross profit of $372.66 million and revenue of $424.34 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. GTLB’s return on assets (ROA) during the last 12 months has been -17.40%. There was a -25.50% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -25.80%.
Earnings Surprise
According to GitLab Inc.’s quarterly financial report for the quarter that ended April 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $126.88 million, while revenues rose by 31.11% to $122.91 million. It was predicted that GitLab Inc.’s quarterly earnings would be -$0.06, but it ended up being -$0.14, beating the consensus by 57.10%. EBITDA was -$49.61 million for the quarter. At the end of GitLab Inc.’s most recent quarter ended April 29, its liabilities totaled 348.51 million, while its total debt was $1.44 million. Equity owned by shareholders amounts to $152.8 million.
Technical Picture
Here’s a quick look at GitLab Inc.’s (GTLB) price momentum from a technical perspective. As of 25 August, the RSI 9-day stood at 48.42%, suggesting the stock is Neutral, with a 50.46% historical volatility rate.
The stochastic %K and %D were 54.88% and 49.73% respectively, while the average true range (ATR) was 2.16. Based on the 14-day stochastic reading of 64.39%, the RSI (14) reading is 47.21%. On the 9-day MACD Oscillator, the stock is at 0.44, and the 14-day reading is at 0.48.
Analyst Ratings
In its analyst report released on June 20, 2023, Wolfe Research began covering GitLab Inc. (NASDAQ: GTLB). The stock was rated as a Peer perform by the brokerage firm. Analysts have assigned GitLab Inc. (GTLB) an Overweight rating. GTLB is a stock that is recommended for selling by 0 brokerage firms, while 5 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 2 rates it overweight and 12 others recommend it as a buy.
What is GTLB’s price target for the next 12 months?
The current consensus forecast for the stock is between $39.00 and $70.00, with a median target price of $60.00. In analyzing these forecasts, the average price target given by analysts for GitLab Inc. (GTLB) is $56.07.
