GitLab Inc. [GTLB] Revenue clocked in at $252.70 million, down -41.38% YTD: What’s Next?


GitLab Inc. [NASDAQ: GTLB] stock went on an upward path that rose over 28.01% on Tuesday, amounting to a one-week price increase of more than 30.97%. The company report on June 6, 2022 that GitLab Reports First Quarter Fiscal Year 2023 Financial Results.

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Quarterly revenue of $87.4 million, up 75% year-over-year Strong Dollar-Based Net Retention Rate above 130%.

The one-year GitLab Inc. stock forecast points to a potential upside of 25.13. The average equity rating for GTLB stock is currently 1.90, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $8.26 billion, with 145.65 million shares outstanding and 50.49 million shares in the current float. Compared to the average trading volume of 1.84M shares, GTLB stock reached a trading volume of 8317542 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on GitLab Inc. [GTLB]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GTLB shares is $68.12 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GTLB stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

RBC Capital Mkts have made an estimate for GitLab Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 04, 2022. The new note on the price target was released on January 27, 2022, representing the official price target for GitLab Inc. stock. Previously, the target price had yet another raise to $100, while Piper Sandler analysts kept a Overweight rating on GTLB stock.

The Average True Range (ATR) for GitLab Inc. is set at 5.65, with the Price to Sales ratio for GTLB stock in the period of the last 12 months amounting to 32.68. The Price to Book ratio for the last quarter was 9.59, with the Price to Cash per share for the same quarter was set at 5.77.

GTLB Stock Performance Analysis:

GitLab Inc. [GTLB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 30.97. With this latest performance, GTLB shares gained by 20.37% in over the last four-week period, additionally sinking by -42.80% over the last 6 months .

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GTLB stock in for the last two-week period is set at 59.29, with the RSI for the last a single of trading hit 65.14, and the three-weeks RSI is set at 55.45 for GitLab Inc. [GTLB]. The present Moving Average for the last 50 days of trading for this stock 46.43, while it was recorded at 43.00 for the last single week of trading.

Insight into GitLab Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and GitLab Inc. [GTLB] shares currently have an operating margin of -50.84 and a Gross Margin at +88.00. GitLab Inc.’s Net Margin is presently recorded at -61.40.

Return on Equity for this stock declined to -32.04, with Return on Assets sitting at -21.19.

GitLab Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.40 and a Current Ratio set at 4.40.


The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GTLB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for GitLab Inc. go to 30.80%.

GitLab Inc. [GTLB] Insider Position Details

There are presently around $1,742 million, or 80.10% of GTLB stock, in the hands of institutional investors. The top three institutional holders of GTLB stocks are: ICONIQ CAPITAL, LLC with ownership of 9,773,455, which is approximately 252.163% of the company’s market cap and around 3.30% of the total institutional ownership; GENERAL CATALYST GROUP MANAGEMENT, LLC, holding 3,112,905 shares of the stock with an approximate value of $124.02 million in GTLB stocks shares; and BLACKROCK INC., currently with $112.41 million in GTLB stock with ownership of nearly 13.12% of the company’s market capitalization.

Positions in GitLab Inc. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 108 institutional holders increased their position in GitLab Inc. [NASDAQ:GTLB] by around 22,172,727 shares. Additionally, 55 investors decreased positions by around 6,668,249 shares, while 10 investors held positions by with 14,895,354 shares. The mentioned changes placed institutional holdings at 43,736,330 shares, according to the latest SEC report filing. GTLB stock had 68 new institutional investments in for a total of 10,592,673 shares, while 32 institutional investors sold positions of 2,563,019 shares during the same period.