$77.67 million in sales expected for GitLab Inc. (NASDAQ:GTLB) this quarter


Analysts expect GitLab Inc. (NASDAQ:GTLB – Get Rating) to report sales of $77.67 million for the current quarter, according to Zacks. Six analysts have made estimates of GitLab’s revenue, with the highest revenue estimate standing at $78.00 million and the lowest estimate at $77.10 million. The company is expected to release its next quarterly results on Monday, January 1.

According to Zacks, analysts expect GitLab to report annual sales of $388.40 million for the current fiscal year, with estimates ranging from $386.60 million to $390.50 million. For the next fiscal year, analysts expect the company to post sales of $539.97 million, with estimates ranging from $525.70 million to $559.70 million. Zacks sales calculations are an average based on a survey of analysts who follow GitLab.

GitLab (NASDAQ:GTLB – Get Rating) last released its quarterly results on Monday, March 14. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.07. The company posted revenue of $77.80 million for the quarter, against analyst estimates of $70.18 million.

Several analysts have recently commented on GTLB shares. Bank of America lowered its price target on GitLab shares from $125.00 to $105.00 and set a “buy” rating on the stock in a Wednesday, March 9 research report. Goldman Sachs Group lowered its price target on GitLab shares from $86.00 to $69.00 and set a “neutral” rating on the stock in a Thursday, April 14 report. Zacks Investment Research upgraded GitLab shares from a “sell” rating to a “hold” rating in a Tuesday, February 8 report. JPMorgan Chase & Co. upgraded GitLab shares from a “neutral” rating to an “overweight” rating and set a price target of $99.00 on the stock in a Thursday, January 27 report. Finally, Truist Financial cut its price target on GitLab shares from $105.00 to $95.00 in a report on Tuesday. Two research analysts gave the stock a hold rating and nine gave the company a buy rating. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $96.44.

Several large investors have recently bought and sold shares of GTLB. National Bank of Canada FI increased its stake in GitLab by 500.0% during the first quarter. National Bank of Canada FI now owns 600 shares of the company worth $33,000 after purchasing an additional 500 shares during the period. Manchester Capital Management LLC bought a new position in GitLab during the first quarter worth around $35,000. Silvant Capital Management LLC bought a new position in GitLab during the first quarter worth around $50,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in GitLab during the fourth quarter worth about $145,000. Finally, Rockefeller Capital Management LP bought a new position in GitLab during the fourth quarter worth approximately $178,000. 21.30% of the shares are currently held by hedge funds and other institutional investors.

GTLB stock opened at $34.48 on Thursday. The company’s fifty-day moving average is $48.88 and its 200-day moving average is $71.99. GitLab has a one-year low of $30.74 and a one-year high of $137.00.

GitLab company profile (Get an assessment)

GitLab Inc, through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and Asia-Pacific. The company offers GitLab, a DevOps platform, which is a single application that leads to faster cycle time and allows visibility and control over the various stages of the DevOps lifecycle.

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History and revenue estimates for GitLab (NASDAQ:GTLB)



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Sallie R. Loera