For Gitlab Inc [GTLB], Analyst sees a rise to $73. What next?

Gitlab Inc [NASDAQ: GTLB] loss -3.11% or -2.2 points to close at $68.48 with a heavy trading volume of 3044704 shares. The company report on January 18, 2024 at 4:05 PM that GitLab Appoints Sabrina Farmer as Chief Technology Officer.

Former Google VP of Engineering brings more than 25 years of experience to lead GitLab’s software engineering, operations, and customer support teams for the most comprehensive AI-powered DevSecOps platform in the market.

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The daily chart for GTLB points out that the company has recorded 40.13% gains over the past six months.

If we look at the average trading volume of 2.33M shares, GTLB reached to a volume of 3044704 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 $70.59 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 1.64. 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.

Mizuho have made an estimate for Gitlab Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 08, 2024.

The Average True Range (ATR) for Gitlab Inc is set at 2.92, with the Price to Sales ratio for GTLB stock in the period of the last 12 months amounting to 19.78. The Price to Book ratio for the last quarter was 19.51, with the Price to Cash per share for the same quarter was set at 6.36.

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 7.91. With this latest performance, GTLB shares gained by 8.29% in over the last four-week period, additionally plugging by 40.13% over the last 6 months – not to mention a rise of 40.13% 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 66.04, with the RSI for the last a single of trading hit 66.90, and the three-weeks RSI is set at 65.19 for Gitlab Inc [GTLB]. The present Moving Average for the last 50 days of trading for this stock 57.96, while it was recorded at 68.58 for the last single week of trading, and 46.89 for the last 200 days.

Gitlab Inc [GTLB]: A deeper dive into fundamental analysis

Gitlab Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.97 and a Current Ratio set at 1.97.

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

With the latest financial reports released by the company, Gitlab Inc posted -0.03/share EPS, while the average EPS was predicted by analysts to be reported at -0.14/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 78.60%. 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 Institutional ownership at Gitlab Inc [GTLB]

The top three institutional holders of GTLB stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in GTLB stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in GTLB stock with ownership which is approximately 5.8325%.