As of Thursday close, GitLab Inc.’s (NASDAQ:GTLB) stock was down -$2.57, moving down -5.42 percent to $44.85. The average number of shares traded per day over the past five days has been 2,910,900 shares. 1 time new highs have been achieved over the past 5 days, with a -$5.08 fall in that time frame. In the last twenty days, the average volume was 2,419,265, while in the previous 50 days, it was 1,788,638.
Since last month, GTLB stock retreated -0.27%. Shares of the company fell to $43.58 on 08/25/23, the lowest level in the past month. A 52-week high of $58.70 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 -1.30% or -$0.59, and marked a new high 9 times. However, the stock has declined by -23.59% since its 52-week high.
GTLB stock investors should be aware that GitLab Inc. (GTLB) stock had its last reported insider trading activity 7 days ago on Sep 15. Sijbrandij Sytse, the Chief Executive Officer of the company, disposed of 155,000 shares for $48.45 on Sep 15. It resulted in a $7,510,273 divestment by the insider. Jacobson Matthew sold 81,876 shares at an average price of $51.31 on Sep 13. The insider now owns 1,298,646 shares following the transaction. On Sep 13, 10% Owner ICONIQ Strategic Partners III, sold 42,294 shares at $51.31 apiece. The transaction was valued at $2,170,046.
Valuation Metrics
The stock’s beta is 0.17. Besides these, the trailing price-to-sales (P/S) ratio of 14.13, the price-to-book (PB) ratio of 8.79.
Financial Health
In the three months ended July 30, 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 88.70% percent. In the year ended July 30, EBITDA margin amounted to -48.64%, whereas operating margins totaled -42.90%. 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 -24.60%.
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 27.25% to $126.88 million during the quarter, while net income inched up to $138.89 million. While analysts expected GitLab Inc. to report -$0.03 quarterly earnings, the actual figure was $0.01 per share, beating the consensus estimate by 133.30%. During the quarter, the company generated -$47.23 million in EBITDA. The liabilities of GitLab Inc. were 357.83 million at the end of its most recent quarter ended July 30, and its total debt was $0.76 million. The value of shareholders’ equity is $154.7 million.
Technical Picture
This quick technical analysis looks at GitLab Inc.’s (GTLB) price momentum. With a historical volatility rate of 22.58%, the RSI 9-day stood at 28.16% on 21 September.
With respect to its five-day moving average, the current GitLab Inc. price is down by -10.17% percent or -$5.08. At present, GTLB shares trade -3.36% below its 20-day simple moving average and +47.73% percent above its 100-day simple moving average. However, the stock is currently trading approximately -15.22% below its SMA50 and +8.67% above its SMA200.
Stochastic coefficient K was 13.00% and Stochastic coefficient D was 24.04%, while ATR was 2.09. Given the Stochastic reading of 0.10% for the 14-day period, the RSI (14) reading has been calculated as 37.38%. As of today, the MACD Oscillator reading stands at -2.54, while the 14-day reading stands at -3.06.
Analyst Ratings
Canaccord Genuity launched its rating on GitLab Inc. (NASDAQ: GTLB) to a Buy in a note to investors on September 12, 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 3 analysts rate GitLab Inc. stock as buy, with 12 recommending it as overweight.
With a median target price of $62.00, the current consensus forecast for the stock is $48.00 – $70.00. Based on these forecasts, analysts predict GitLab Inc. (GTLB) will achieve an average price target of $61.06.
