Gitlab Inc [NASDAQ: GTLB] price surged by 1.58 percent to reach at $1.16. The company report on March 4, 2024 at 4:05 PM that GitLab Reports Fourth Quarter and Full Year 2024 Financial Results.
Quarterly revenue of $163.8 million, up 33% year-over-year.
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The one-year GTLB stock forecast points to a potential upside of 1.64. The average equity rating for GTLB stock is currently 1.64, trading closer to a bullish pattern in the stock market.
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 $75.71 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. While these analysts kept the previous recommendation, Raymond James raised their target price to Mkt Perform. The new note on the price target was released on November 29, 2023, representing the official price target for Gitlab Inc stock. Previously, the target price had yet another raise to $55, while Cantor Fitzgerald analysts kept a Overweight rating on GTLB stock. On November 17, 2023, analysts decreased their price target for GTLB shares from 65 to 50.
The Average True Range (ATR) for Gitlab Inc is set at 3.20, with the Price to Sales ratio for GTLB stock in the period of the last 12 months amounting to 21.51. The Price to Book ratio for the last quarter was 21.21, with the Price to Cash per share for the same quarter was set at 6.36.
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 4.73. With this latest performance, GTLB shares gained by 2.96% in over the last four-week period, additionally plugging by 57.21% over the last 6 months – not to mention a rise of 49.00% 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 60.22, with the RSI for the last a single of trading hit 62.96, and the three-weeks RSI is set at 59.88 for Gitlab Inc [GTLB]. The present Moving Average for the last 50 days of trading for this stock 68.11, while it was recorded at 72.85 for the last single week of trading, and 52.46 for the last 200 days.
Insight into Gitlab Inc Fundamentals:
Gitlab Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.97 and a Current Ratio set at 1.97.
GTLB Stock EPS
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%.
Gitlab Inc [GTLB] Institutonal Ownership Details
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%.
