Gitlab Inc [NASDAQ: GTLB] gained 4.26% or 2.65 points to close at $64.80 with a heavy trading volume of 4650170 shares.
The daily chart for GTLB points out that the company has recorded 13.70% gains over the past six months.
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If we look at the average trading volume of 1.81M shares, GTLB reached to a volume of 4650170 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 $66.32 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 1.48. 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 Buy, with their previous recommendation back on October 21, 2024. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Overweight. The new note on the price target was released on October 09, 2024, representing the official price target for Gitlab Inc stock. Previously, the target price had yet another drop from $80 to $66, while BofA Securities kept a Buy rating on GTLB stock.
The Average True Range (ATR) for Gitlab Inc is set at 2.52, with the Price to Sales ratio for GTLB stock in the period of the last 12 months amounting to 15.63. The Price to Book ratio for the last quarter was 16.17, with the Price to Cash per share for the same quarter was set at 6.75. Price to Free Cash Flow for GTLB in the course of the last twelve months was 157.28 with Quick ratio for the last quarter at 1.92.
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 5.97. With this latest performance, GTLB shares gained by 22.13% in over the last four-week period, additionally plugging by 13.70% over the last 6 months – not to mention a rise of 40.41% 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 73.24, with the RSI for the last a single of trading hit 78.43, and the three-weeks RSI is set at 69.10 for Gitlab Inc [GTLB]. The present Moving Average for the last 50 days of trading for this stock 55.08, while it was recorded at 61.54 for the last single week of trading, and 54.34 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 1.92 and a Current Ratio set at 1.92.
Gitlab Inc [GTLB]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Gitlab Inc posted 0.09/share EPS, while the average EPS was predicted by analysts to be reported at -0.01/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.1. 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 30.00%.
An analysis of Institutional ownership at Gitlab Inc [GTLB]
There are presently around $82.71%, or 85.93%% of GTLB stock, in the hands of institutional investors. The top three institutional holders of GTLB stocks are: VANGUARD GROUP INC with ownership of 11.47 million shares, which is approximately 7.2539%. ALPHABET INC., holding 9.76 million shares of the stock with an approximate value of $$485.18 million in GTLB stocks shares; and ALPHABET INC., currently with $$369.86 million in GTLB stock with ownership which is approximately 4.7034%.
