Across the recent three months, 15 analysts have shared their insights on GitLab (NASDAQ:GTLB), expressing a variety of opinions spanning from bullish to bearish.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 6 | 6 | 3 | 0 | 0 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 4 | 3 | 3 | 0 | 0 |
| 2M Ago | 1 | 0 | 0 | 0 | 0 |
| 3M Ago | 1 | 2 | 0 | 0 | 0 |
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $63.47, a high estimate of $80.00, and a low estimate of $50.00. Observing a downward trend, the current average is 9.22% lower than the prior average price target of $69.92.
Understanding Analyst Ratings: A Comprehensive Breakdown
In examining recent analyst actions, we gain insights into how financial experts perceive GitLab. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Matthew Hedberg | RBC Capital | Maintains | Outperform | $65.00 | $65.00 |
| Kingsley Crane | Canaccord Genuity | Lowers | Buy | $65.00 | $74.00 |
| Gray Powell | BTIG | Lowers | Buy | $58.00 | $71.00 |
| Yi Fu Lee | Cantor Fitzgerald | Lowers | Overweight | $55.00 | $70.00 |
| Ryan McKeveny | Barclays | Lowers | Equal-Weight | $50.00 | $55.00 |
| Matthew Hedberg | RBC Capital | Lowers | Outperform | $65.00 | $74.00 |
| Pinjalim Bora | JP Morgan | Lowers | Neutral | $50.00 | $55.00 |
| Gil Luria | DA Davidson | Lowers | Neutral | $50.00 | $65.00 |
| Koji Ikeda | B of A Securities | Lowers | Buy | $80.00 | $85.00 |
| Gregg Moskowitz | Mizuho | Lowers | Buy | $62.00 | $70.00 |
| Jason Celino | Keybanc | Lowers | Overweight | $62.00 | $70.00 |
| Gregg Moskowitz | Mizuho | Lowers | Buy | $70.00 | $75.00 |
| Adam Tindle | Raymond James | Announces | Outperform | $70.00 | - |
| Michael Turrin | Wells Fargo | Announces | Overweight | $70.00 | - |
| Joel Fishbein | Truist Securities | Maintains | Buy | $80.00 | $80.00 |
Key Insights:
- Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to GitLab. This information offers a snapshot of how analysts perceive the current state of the company.
- Rating: Providing a comprehensive analysis, analysts offer qualitative assessments, ranging from 'Outperform' to 'Underperform'. These ratings reflect expectations for the relative performance of GitLab compared to the broader market.
- Price Targets: Analysts predict movements in price targets, offering estimates for GitLab's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of GitLab's market position. Stay informed and make well-informed decisions with our Ratings Table.
Stay up to date on GitLab analyst ratings.
Delving into GitLab's Background
GitLab Inc operates on an all-remote model. GitLab, a complete DevSecOps platform delivered as a single application. It operates in two competitive landscapes: DevOps point solutions and DevOps platforms. In terms of point solutions that are stitched together, GitLab's offering is substantially different in that it is one platform, one codebase, one interface, and a unified data model that spans the entire DevSecOps lifecycle. DevOps platforms, the principal competitor is Microsoft Corporation following their acquisition of GitHub. GitLab is offered on both self-managed and software-as-a-service (SaaS) models. It is located in the United States, Europe, and Asia Pacific. It focused on accelerating innovation and broadening the distribution of its platform to companies across the world.
Breaking Down GitLab's Financial Performance
Market Capitalization Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale.
Revenue Growth: GitLab's revenue growth over a period of 3 months has been noteworthy. As of 30 April, 2024, the company achieved a revenue growth rate of approximately 33.35%. This indicates a substantial increase in the company's top-line earnings. When compared to others in the Information Technology sector, the company excelled with a growth rate higher than the average among peers.
Net Margin: The company's net margin is below industry benchmarks, signaling potential difficulties in achieving strong profitability. With a net margin of -32.3%, the company may need to address challenges in effective cost control.
Return on Equity (ROE): GitLab's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of -9.59%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): GitLab's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of -4.14%, the company may face hurdles in achieving optimal financial performance.
Debt Management: The company maintains a balanced debt approach with a debt-to-equity ratio below industry norms, standing at 0.0.
What Are Analyst Ratings?
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts also offer predictions for helpful metrics such as earnings, revenue, and growth estimates to provide further guidance as to what to do with certain tickers. It is important to keep in mind that while stock and sector analysts are specialists, they are also human and can only forecast their beliefs to traders.
This article was generated by Benzinga's automated content engine and reviewed by an editor.