Needham lifts GitLab Inc. [GTLB] price estimate. Who else is bullish?

GitLab Inc. [NASDAQ: GTLB] gained 16.72% or 7.16 points to close at $49.98 with a heavy trading volume of 9086543 shares. The company report on February 13, 2023 that GitLab To Announce Fourth Quarter and Full Year Fiscal 2023 Financial Results.

From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio

The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.

Get our free report, "Top 5 AI Stocks to Buy for 2023".


GitLab will host a Zoom video conference and earnings webcast beginning at 4:30 p.m. EST / 1:30 p.m. PST on the same day to discuss the company’s financial results. Interested parties may register for the conference call here or at

It opened the trading session at $42.43, the shares rose to $52.99 and dropped to $41.84, the range by which the price of stock traded the whole day. The daily chart for GTLB points out that the company has recorded -19.81% loss over the past six months. However, it is still -62.59% lower than its most recent low trading price.

If we look at the average trading volume of 2.19M shares, GTLB reached to a volume of 9086543 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about 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 $64.15 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.

Needham have made an estimate for GitLab Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on February 10, 2023. While these analysts kept the previous recommendation, FBN Securities raised their target price to Outperform. The new note on the price target was released on January 23, 2023, representing the official price target for GitLab Inc. stock. Previously, the target price had yet another raise to $65, while Barclays analysts kept a Overweight rating on GTLB stock.

The Average True Range (ATR) for GitLab Inc. is set at 3.47, with the Price to Sales ratio for GTLB stock in the period of the last 12 months amounting to 20.37. The Price to Book ratio for the last quarter was 9.74, with the Price to Cash per share for the same quarter was set at 6.00.

Trading performance analysis for GTLB stock

GitLab Inc. [GTLB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.64. With this latest performance, GTLB shares gained by 1.15% in over the last four-week period, additionally sinking by -19.81% over the last 6 months – not to mention a drop of -8.11% in the past year of trading.

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 56.83, with the RSI for the last a single of trading hit 61.80, and the three-weeks RSI is set at 54.67 for GitLab Inc. [GTLB]. The present Moving Average for the last 50 days of trading for this stock 46.10, while it was recorded at 44.78 for the last single week of trading, and 49.49 for the last 200 days.

GitLab Inc. [GTLB]: A deeper dive into fundamental analysis

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 4.00 and a Current Ratio set at 4.00.

GitLab Inc. [GTLB]: An earnings per share (EPS) analysis

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 38.10%.

An analysis of insider ownership at GitLab Inc. [GTLB]

There are presently around $4,203 million, or 84.70% 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 0% of the company’s market cap and around 1.30% of the total institutional ownership; MORGAN STANLEY, holding 7,845,971 shares of the stock with an approximate value of $392.14 million in GTLB stocks shares; and VANGUARD GROUP INC, currently with $326.84 million in GTLB stock with ownership of nearly 40.655% of the company’s market capitalization.

Positions in GitLab Inc. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 144 institutional holders increased their position in GitLab Inc. [NASDAQ:GTLB] by around 17,523,801 shares. Additionally, 106 investors decreased positions by around 7,624,986 shares, while 26 investors held positions by with 58,951,272 shares. The mentioned changes placed institutional holdings at 84,100,059 shares, according to the latest SEC report filing. GTLB stock had 59 new institutional investments in for a total of 4,588,425 shares, while 47 institutional investors sold positions of 2,394,357 shares during the same period.


Please enter your comment!
Please enter your name here