GitLab Inc. [GTLB] Stock trading around $36.17 per share: What’s Next?

GitLab Inc. [NASDAQ: GTLB] loss -4.77% or -1.81 points to close at $36.17 with a heavy trading volume of 3290579 shares. The company report on March 13, 2023 that GitLab Reports Fourth Quarter and Full Year 2023 Financial Results.

Quarterly revenue of $122.9 million, up 58% year-over-year.

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It opened the trading session at $37.86, the shares rose to $37.86 and dropped to $35.70, the range by which the price of stock traded the whole day. The daily chart for GTLB points out that the company has recorded -33.19% loss over the past six months. However, it is still -16.98% lower than its most recent low trading price.

If we look at the average trading volume of 2.56M shares, GTLB reached to a volume of 3290579 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 $51.42 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 3.60, with the Price to Sales ratio for GTLB stock in the period of the last 12 months amounting to 12.29. The Price to Book ratio for the last quarter was 7.05, with the Price to Cash per share for the same quarter was set at 6.44.

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 8.13. With this latest performance, GTLB shares dropped by -18.15% in over the last four-week period, additionally sinking by -33.19% over the last 6 months – not to mention a drop of -36.60% 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 38.58, with the RSI for the last a single of trading hit 36.16, and the three-weeks RSI is set at 40.90 for GitLab Inc. [GTLB]. The present Moving Average for the last 50 days of trading for this stock 45.61, while it was recorded at 36.51 for the last single week of trading, and 49.69 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 -49.82 and a Gross Margin at +87.75. GitLab Inc.’s Net Margin is presently recorded at -40.61.

Return on Equity for this stock declined to -22.29, with Return on Assets sitting at -15.19.

Receivables Turnover for the company is 4.09 with a Total Asset Turnover recorded at a value of 0.37.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 $3,042 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 $283.79 million in GTLB stocks shares; and VANGUARD GROUP INC, currently with $236.53 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 Monday and at the time of the Monday reporting period, where 143 institutional holders increased their position in GitLab Inc. [NASDAQ:GTLB] by around 17,522,978 shares. Additionally, 105 investors decreased positions by around 7,623,702 shares, while 27 investors held positions by with 58,952,556 shares. The mentioned changes placed institutional holdings at 84,099,236 shares, according to the latest SEC report filing. GTLB stock had 58 new institutional investments in for a total of 4,587,602 shares, while 47 institutional investors sold positions of 2,394,357 shares during the same period.


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