GitLab (NASDAQ:GTLB) Releases Q2 Earnings Guidance

GitLab (NASDAQ:GTLB) updated its second quarter earnings guidance on Monday. The company provided earnings per share guidance of $0.09 – $0.10 for the period, compared to the consensus earnings per share estimate of $0.10. The company issued revenue guidance of $176-177, compared to the consensus revenue estimate of $176.86 million. GitLab also updated its FY 2025 guidance to 0.340-0.370 EPS.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on GTLB. Canaccord Genuity Group dropped their price objective on GitLab from $74.00 to $65.00 and set a buy rating for the company in a report on Wednesday, June 5th. DA Davidson cut their price objective on shares of GitLab from $65.00 to $50.00 and set a neutral rating on the stock in a report on Tuesday, June 4th. JPMorgan Chase & Co. lowered their target price on shares of GitLab from $55.00 to $50.00 and set a neutral rating for the company in a report on Tuesday, June 4th. BTIG Research cut their price target on GitLab from $71.00 to $58.00 and set a buy rating on the stock in a research note on Tuesday, June 4th. Finally, Bank of America decreased their price objective on GitLab from $85.00 to $80.00 and set a buy rating for the company in a research note on Tuesday, June 4th. Four research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $67.30.

GitLab Price Performance

GTLB stock traded up $1.22 during midday trading on Wednesday, hitting $44.26. The company’s stock had a trading volume of 456,474 shares, compared to its average volume of 2,581,371. The company’s fifty day moving average price is $48.64 and its 200 day moving average price is $56.93. GitLab has a twelve month low of $40.19 and a twelve month high of $78.53. The stock has a market capitalization of $7.03 billion, a P/E ratio of -15.65 and a beta of 0.46.

GitLab (NASDAQ:GTLB) last released its earnings results on Monday, June 3rd. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.09. GitLab had a negative return on equity of 19.14% and a negative net margin of 68.52%. The business had revenue of $169.19 million for the quarter, compared to the consensus estimate of $165.66 million. Equities analysts expect that GitLab will post -0.5 EPS for the current fiscal year.

Insider Activity

In other GitLab news, CEO Sytse Sijbrandij sold 56,000 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $48.99, for a total transaction of $2,743,440.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other GitLab news, CEO Sytse Sijbrandij sold 56,000 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $48.99, for a total value of $2,743,440.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brian G. Robins sold 11,667 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $43.56, for a total value of $508,214.52. Following the completion of the transaction, the chief financial officer now directly owns 305,175 shares in the company, valued at approximately $13,293,423. The disclosure for this sale can be found here. In the last 90 days, insiders sold 140,275 shares of company stock valued at $6,848,847. 21.36% of the stock is owned by insiders.

About GitLab

GitLab Inc, through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. It offers GitLab, a DevOps platform, which is a single application that leads to faster cycle time and allows visibility throughout and control over various stages of the DevOps lifecycle.