Gitlab Inc (NASDAQ:GTLB) saw a downside of -3.85% to close Tuesday at $42.15 after subtracting -$1.69 on the day. The 5-day average trading volume is 1,688,700 shares of the company’s common stock. It has gained $49.05 in the past week and touched a new high 1 time within the past 5 days. An average of 2,560,385 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,780,052.
GTLB’s 1-month performance is -6.73% or -$3.04 on its low of $41.69 reached on 09/26/23. The company’s shares have touched a 52-week low of $26.24 and high of $58.70, with the stock’s rally to the 52-week high happening on 02/02/23. YTD, GTLB has lost -7.24% or -$3.29 and has reached a new high 9 times. However, the current price is down -28.19% from the 52-week high price.
Insider Transactions
GTLB stock investors last saw insider trading activity on Sep 20.Jacobson Matthew (Director) most recently sold 89,177 shares at $48.37 per share on Sep 20. This transaction cost the insider $4,313,153. 10% Owner, ICONIQ Strategic Partners IV,, sold 55,613 shares at a price of $48.37 on Sep 20. Then, on Sep 20, 10% Owner ICONIQ Strategic Partners IV, sold 33,564 shares at a price of $48.37 per share. This transaction amounted to $1,623,363.
Valuation Metrics
GTLB stock has a beta of 0.20. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 12.97 while the price-to-book (PB) in the most recent quarter is 8.32.
Gitlab Inc’s quick ratio for the period ended July 30 was 3.48, with the current ratio over the same period at 3.48.. In terms of profitability, the gross margin trailing 12 months is 88.64%. The trailing 12-month EBITDA margin is -48.64% while for the period ending July 30, Gitlab Inc’s operating margin was -41.27%. The firm’s gross profit as reported stood at $372.66 million against revenue of $424.34 million.
Earnings Surprise
For the quarterly period ending July 30 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -17.85% to -$50.08 million, while revenue of -$52.47 million was -4.77% off the previous quarter. Analysts expected GTLB to announce -$0.03 per share in earnings in its latest quarter, but it posted $0.01, representing a 133.30% surprise. EBITDA for the quarter stood at more than -$47.23 million. GTLB stock balance sheet for the quarter ending July 30 shows that total liabilities totaled 357.83 million, with total debt at $0.76 million. Shareholders hold equity totaling $154.7 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 26 September was 20.72% to suggest the stock is trending oversold, with historical volatility in this time period at 20.68%.
The stock’s 5-day moving average is $44.65, reflecting a -11.67% or -$5.57 change from its current price. GTLB is currently trading -6.48% above its 20-day SMA, +49.36% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -20.46% and SMA200 by-1.47%.
Stochastic %K and %D was 4.13% and 4.55% and the average true range (ATR) pointed at 2.01. The RSI (14) points at 30.63%, while the 14-day stochastic is at 3.76% with the period’s ATR at 2.07. The stock’s 9-day MACD Oscillator is pointing at -2.76 and -4.78 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Gitlab Inc (NASDAQ: GTLB), Canaccord Genuity launched coverage with a Buy rating. Analysts offering their rating for GTLB stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate GTLB as a “sell,”, while 5 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 3 rates the stock as overweight while 12 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 $48.00 and a high of $70.00, with their median price target at $62.00. Looking at these predictions, the average price target given by analysts is for Gitlab Inc (GTLB) stock is $61.06.
